Investment manager

Envestnet Selected as Investment Manager for Sallus Retirement Common Employer Plan

CHICAGO, July 22, 2021 / PRNewswire / – Envestnet Retirement Solutions, a subsidiary of Investnet, Inc. (NYSE: ENV), announces that it has been selected by Sallus Retirement LLC (Sallus Retirement) to serve as investment manager for the common employer 401 (k) from Sallus Retirement) for small business owners and the financial advisors who serve them.

Sallus Retirement, built in response to the 60 million working Americans who today do not have a workplace pension plan, is one of the first fully independent, bespoke pooled plan provider solutions on the market. . The Sallus Retirement solution is a digital, comprehensive, bundled Common Employer Plan (PEP) offering designed specifically for the 5 million small businesses that, until now, could not afford to sponsor a retirement plan for employees. employees, or who wish to reduce the risk of becoming a trustee of a pension plan subject to oversight by the US Department of Labor and the Internal Revenue Service.

Envestnet will leverage its pension plan experience in asset allocation, portfolio construction and manager research to manage Sallus Retirement’s PEP 401 (k) fund portfolios.

“We continue to expand the asset and fiduciary management capabilities available through the Envestnet financial wellness ecosystem,” said Dana D’Auria, CFA, Co-Director of Investments for Investnet. “Working with Sallus Retirement gives us the opportunity to optimize investments and reduce costs in complete 401 (k) solutions for small businesses and the independent financial advisors who work with them, potentially improving retirement outcomes for some. of the estimated 60 million Americans who are not currently enrolled in a workplace retirement plan. We hope that all of our distribution partners can take advantage of this new pension plan solution.

Under the Establishment of Every Community for the Improvement of Retirement Act (SECURE), employers from different industries are allowed to pool their resources and participate in a single 401 (k) scheme sponsored by a common scheme provider (PPP) registered with the Ministry of Labor. Unlike single employer plans, where the employer / sponsor is the appointed trustee, the primary trustee of a PEP is the professional PPP, who is responsible for administrative tasks as well as the selection, monitoring and supervision of providers. plan services. PEPs were created to help small businesses provide employees with the opportunity to save for retirement, while reducing the costs and risks associated with being a plan sponsor.

“By selecting Envestnet to serve as the investment manager for selecting and overseeing our PEP funds, we provide small business owners with the assurance that a team of independent trustees are supporting them and their financial advisor,” said Lisa Kottler, Director of Growth at Sallus Retraite. “Investnet’s solid investment knowledge and established due diligence processes for selecting plan investments demonstrate our commitment to delivering a high quality program to the underserved small employer community. ”

Sallus Retirement will be available later this year. For more information, please visit http://www.sallus.com.

About Investnet

Envestnet, Inc. (NYSE: ENV) is transforming the way financial and wellness advice is delivered. Our mission is to empower advisors and financial service providers with innovative technologies, solutions and information to make financial wellness a reality for all. More than 106,000 advisors in more than 5,200 companies, including 17 of the 20 largest US banks, 47 of the 50 largest wealth management and brokerage firms, more than 500 of the largest RIAs and hundreds of FinTech companies , take advantage of the Envestnet platform to develop their activities and customer relationships.

For more information on Envestnet, please visit www.envestnet.com, subscribe to our Blog, and follow us on Twitter (@ENVintel) and LinkedIn.

Sallus Retirement and Envestnet are separate, unaffiliated companies. This press release should not be construed as a recommendation or endorsement of any particular product, service or company.

About Sallus Retirement LLC

Independent group benefit provider (PPP) registered with the U.S. Department of Labor, Sallus Retirement LLC provides small businesses and the financial advisors who serve them with fiduciary expertise and oversight of expertly managed and administered workplace pension plans. . Sallus dramatically reduces the high cost, risk, and complexity of traditional retirement plans, helping working Americans save what they need for the retirement they want. For more information on Sallus Retirement, please visit: http://www.sallus.com.

Media contact:

Dana taormina
JConnelly for Envestnet
973.647.4626
[email protected]

SOURCE Envestnet, Inc.



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