Aaron Schumm

Aaron Schumm is the Founder and CEO of Vestwell, a leading digital savings platform founded in 2016 that is transforming workplace financial wellness and retirement savings in America. He is a second-time successful fintech entrepreneur with over 20 years of experience in financial technology, financial services, and wealth management. Aaron is a proud member of the fourth generation of his family to work in financial services, a lineage that has deeply influenced his commitment to democratizing access to savings and investment tools.

Aaron earned his B.S. in Finance from the University of Illinois at Urbana-Champaign, where he developed an early passion for financial services and technology. He went on to receive his MBA from Duke University's Fuqua School of Business in 2007, where he honed his entrepreneurial skills and deepened his expertise in fintech innovation. His education laid the foundation for a career defined by building transformative financial technology platforms.

Aaron began his career at Northern Trust, where he gained hands-on experience in asset management and wealth management operations. He then moved to New York and joined CheckFree Investment Services (now part of Fiserv) as a Product Manager, where he helped build wealth management solutions including unified managed accounts and unified managed households. He later served in product leadership roles at BISYS (acquired by Citigroup), where he was Head of Product within the WealthSolutions group, and subsequently held a VP position on the product team at Citigroup, leading global strategy efforts for Asset Manager Solutions.

In 2007, Aaron co-founded FolioDynamix, a pioneering wealth management technology platform that powered more than $800 billion in assets for over 100,000 financial advisors. FolioDynamix was initially sold to Actua in 2014 and later acquired by Envestnet, one of the largest wealth management technology providers in the industry. After the acquisition, Aaron served as Chief Customer Officer at Envestnet, where he led strategy, revenue, product, and go-to-market execution. The successful exit of FolioDynamix established Aaron as a proven fintech entrepreneur and positioned him as a thought leader in the wealth management technology space.

In 2016, driven by a mission to close the American savings gap, Aaron founded Vestwell. The company's cloud-based platform unifies various savings programs—including 401(k), 403(b), IRA, 529 college savings accounts, emergency savings accounts (ESA), child savings accounts (CSA), ABLE accounts for individuals with disabilities, and student loan repayment benefits. Vestwell partners with financial institutions, state governments, employers, and payroll providers to make savings accessible, efficient, and approachable for everyone, removing traditional barriers that have historically limited participation. Under Aaron's leadership, Vestwell has grown to become a major force in the defined contribution (DC) market.

Aaron's entrepreneurial success has earned him numerous accolades. In 2017, InvestmentNews named him one of its "40 Under 40." In 2024, Ernst & Young (EY) recognized him as an Entrepreneur Of The Year® 2024 New York Award finalist, and Goldman Sachs honored him as one of the Most Exceptional Entrepreneurs of 2024 at its prestigious Builders and Innovators Summit in Healdsburg, California. Additionally, Vestwell joined the World Economic Forum's Unicorn Community, and Aaron has been invited to speak at the WEF Annual Meeting in Davos, Switzerland, underscoring his influence on global financial wellness conversations.

Beyond his role as CEO, Aaron is an active angel investor, advisor, and board member. He has served on the boards and advisory boards of several fintech companies, including Quovo (acquired by Plaid), Vestorly, OfColor, and Chalice Financial Network. His investment and advisory work reflects his commitment to supporting the next generation of fintech innovators. Aaron is also a frequent speaker at industry conferences, podcasts, and events, sharing insights on financial wellness, entrepreneurship, and the future of workplace savings.

While Aaron Schumm is primarily an entrepreneur and CEO, he is also an active angel investor focusing on early-stage fintech companies. His investment philosophy is shaped by his deep experience building enterprise financial technology platforms and his understanding of the challenges facing fintech entrepreneurs.

Investment Focus:

What He Looks For: Aaron seeks founders who are solving real problems in financial services and healthcare, particularly those focused on improving access, efficiency, and user experience. He values entrepreneurs who understand regulatory complexities, have a clear path to product-market fit, and are building scalable technology platforms. Drawing from his own experience, he advises fintech founders to "skip investors who don't get their space," emphasizing the importance of finding backers who truly understand the nuances of the fintech and health IT industries.

Aaron prioritizes founders who are mission-driven and committed to closing gaps in financial wellness, healthcare access, or operational efficiency. He looks for companies that can leverage technology to democratize services that have traditionally been accessible only to large institutions or wealthy individuals. His value-add as an investor includes strategic advice on product development, go-to-market execution, fundraising, regulatory navigation, and customer acquisition, leveraging his extensive network in the financial services and fintech ecosystems.

• Stages: Pre-Seed, Seed, and Series A
• Sectors: FinTech, Health IT, Health and Hospital Services, Financial Software, Media and Information Services (B2B)
• Check Size: Typically invests up to $50K per deal as an angel investor
• Geographic Focus: Primarily U.S.-based companies, especially in the New York area