A new partnership among three firms is aimed at bringing theretirement planning industry “into alignment” with newfiduciary requirements.

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Vertical Management Systems Inc. (VMS), Envestnet | RetirementSolutions (ERS) (a majority-owned subsidiary of Envestnet, Inc.)and United Retirement Plan Consultants (URPC) have announced astrategic partnership focused on combining fiduciary, recordkeepingand compliance services on a single platform and, in addition,providing financial advisors, retirement plan sponsors and participants with a wayto navigate new Department of Labor (DOL) conflict-of-interestregulations.

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The services are integrated on VMS’s Retirement Revolutionplatform, combining the three firms’ expertise in plan design,setup, recordkeeping and administration with fiduciary protectionthat specifically addresses the new DOL rules. The companies saidthat the collaboration results in a retirement-plan solution thatprovides choice, flexibility, transparency and cost-effectivepricing.

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Each company has its own area of specialization. Independently,in addition to the Retirement Revolution platform, which offersboth off-the-shelf and customizable solutions, VMS providesopen-architecture recordkeeping, financial process and controlservices.

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ERS provides an integrated platform for retirement plan advisorscombining practice management technology, research and duediligence, data aggregation, compliance tools and managed accountsolutions. It also offers fiduciary 3(21) and 3(38) outsourcingsolutions to accommodate an advisor’s customized fund menu for aplan.

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URPC provides retirement plan design, consulting andadministration services for small- to mid-size employers. The endresult of the collaboration is a retirement platform with fiduciaryand third-party administrator (TPA) services.

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VMS and ERS are old hands at partnering to provide broaderservices. Back in November, VMS and ERS teamed on providingend-to-end retirement recordkeeping services to advisors, and lastSeptember ERS teamed with MassMutual to offer managed accounts for 401(k)s.

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