Schumm alleges competitors withhold data to siphon client assets
Aaron Schumm · VCs passed on his "boring" startup—raises $385M at a $2B valuation | Vestwell · Sep 7, 2026 · at 19:21
Aaron Schumm, founder and CEO of 401(k) infrastructure platform Vestwell, contrasts Vestwell's data-sharing model with competing legacy retirement platforms.
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“A lot of other players out there in the industry won't give them data. They're like, no, no, no, it's our data. Cause really what they're trying to do is siphon assets out of the program and bring it in house to themselves.”
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