Carson Group and Vestwell Launch Carson Complete 401(k)

What You Need to Know

The new advisory program includes many of Vestwell’s capabilities, such as payroll integration and 3(16) plan administration.
For advisors, a core part of the solution is the home office 3(38) capability that simplifies investment management.
The solution underscores the increasing connections between wealth management and retirement plan advisory services.

On Tuesday, Vestwell and Carson Group announced they are joining forces to launch a retirement plan advisory solution called the Carson Complete 401(k).

In an announcement about the collaboration, Jamie Hopkins, managing partner of wealth solutions for Carson Group, says the partnership will enable Carson Group advisors to scale their small and mid-market 401(k) and 403(b) plan practices.

“We are thrilled to launch Carson Complete 401(k) and partner with a leader in the advisor-sold small plan market,” Hopkins says. “We are committed to enhancing our industry-leading advisory offerings and providing advisors with the best solutions in the market to help ensure they’re set up for success.”

Hopkins says the new 401(k) plan solution will complement the firm’s existing retirement specialists’ program, adding that the Vestwell partnership will provides advisors with the tools they need to rapidly grow their retirement plan practices. With the support of Vestwell’s participant platform, Hopkins says, advisors will be able to deliver a “state-of-the-art experience” to clients.

“Ultimately, it is about providing the best advice to plan sponsors and their participants,” Hopkins says.

The launch of the Carson Complete 401(k) comes at a time when sources say the traditional barriers that have existed between wealth management firms and employer-sponsored retirement plans are weakening. A big part of this dynamic is the fact that advisors foresee more qualified money staying “in-plan” as recordkeepers provide greater access to institutionally priced annuities, potentially affecting the pace of rollovers.