Once Employers have signed the Vestwell Plan Services Agreement, the Advisor will receive an Intake Form and the Plan Sponsor Confirmation Form. The purpose of both forms is to confirm with the Advisor and the Employer (Plan Sponsor) that they are both in agreement about the selection of the Advisor, the nature of the Advisor's services, and the fees that the Advisor is to the Plan or Plan Sponsor.
This is an important compliance step that must be completed for each plan before going live on our Vestwell platform.
Advisor Intake Form
The purpose of the Advisor Intake Form is to not only document fees but to make sure that the Advisor understands that when it acts as an investment fiduciary to a Plan, it is responsible for all investment-related activities.
Once we have this on file, this form does not need to be completed for each plan. To update any advisor information (such as payment details), advisors can fill in a new version of the intake form which can be requested at firstname.lastname@example.org.
Plan Sponsor Confirmation Form
The purpose of the Plan Sponsor Confirmation Form is to make sure the Plan Sponsor also approves the advisor’s fees and the nature of the advisor’s services. The Advisor Intake Form only needs to be completed for the advisor’s first Plan with Vestwell.
This form can also be used to update advisors and/or fees on individual plans. This form can also be requested at email@example.com.
Once the Advisor and Employer complete both forms, the forms will be sent to our Finance Team for processing into the Vestwell billing system.
Where Do I Send The Complete Form?
Please send to firstname.lastname@example.org
What If the Advisor Intake Form is Not Completed?
We cannot process advisor fees directly until we have confirmation of those fees from the plan sponsor(employer). If you, as the advisor, have a signed agreement with the plan sponsor, which includes the advisor’s fee schedule, we can use that in place of this form. In that case, that signed agreement must be sent to us in order for us to process their fees directly.