Marks significant milestone for Vestmark's
platform serving financial advisors
WAKEFIELD, Mass., Sept. 24,
2024 /PRNewswire/ -- Vestmark, Inc., a leading
provider of wealth management software and services, announced
today a commercial partnership with BlackRock (NYSE: BLK) to
enhance custom model portfolio solutions for registered investment
advisors (RIAs). By combining Vestmark VAST's tax management
capabilities across equities, ETFs, and separately managed accounts
(SMAs) with BlackRock's extensive custom model portfolio
construction capabilities, this partnership empowers financial
advisors with the flexibility to offer investment solutions
personalized for tax at scale.
Through this partnership, BlackRock will offer its range of
standard and RIA custom model portfolios, all managed and
rebalanced, through Vestmark's Manager Marketplace. Vestmark's
platform allows wealth managers to access and deploy a variety of
investment strategies available.
An essential component of this partnership is Vestmark's Unified
Managed Account (UMA) platform. This platform integrates the
implementation of mutual funds, ETFs, equity separately managed
accounts (SMAs), fixed-income SMAs, and alternatives within a
single custodian account.
"Partnering with BlackRock underscores the trust and confidence
that many of the industry's leading firms have in Vestmark's
capabilities," said Karl Roessner,
CEO of Vestmark. "This collaboration strengthens our position as a
prominent solution that combines advanced portfolio management with
tax management capabilities. We are excited to offer our unique UMA
proposition to advisors, providing an innovative, sophisticated
solution to help meet their clients' diverse needs."
The solutions resulting from this partnership will offer
advisors access to a comprehensive suite of model portfolios.
Wealth managers accessing BlackRock model portfolios will also gain
access to Vestmark VAST®, an innovative solution
providing personalization and tax management at scale. The
collaboration with BlackRock reflects both companies' commitment to
innovation and growth in the model portfolio business, a growing
vehicle of choice for advisors.
"Collaborating with Vestmark allows us to continue expanding
choice to RIAs who want our portfolio design solutions," said
Eve Cout, Head of Portfolio Design
& Solutions within BlackRock's U.S. Wealth Advisory business.
"This effort aligns with BlackRock's commitment to providing
advisors with valuable tools and resources. By leveraging
Vestmark's technology, we can help RIAs build portfolios combining
mutual funds, ETFs and SMAs."
Vestmark supports six of the ten largest managed account
platforms in the industry, with $1.5
trillion in assets flowing through its platform. More than
65,000 advisors supported by Vestmark technology have access to a
model marketplace with more than 1,200 strategies.
About Vestmark
Headquartered in Wakefield,
Mass., and founded in 2001, Vestmark is a leading provider
of portfolio management solutions and outsourced services for
financial institutions and their advisors, enabling them to
efficiently manage customized client portfolios through an
innovative technology platform. Supporting over $1.5 trillion in assets and 5.5 million accounts,
Vestmark is a partner to some of the largest and most respected
wealth management firms. For more information about Vestmark's
solutions, call (781) 224-3640 or visit www.vestmark.com
Investment strategies that seek to enhance after-tax performance
may be unable to fully realize strategic gains or harvest
losses. There are limitations inherent in the use of an
optimization methodology to manage accounts relative to a
designated index; for instance, the optimization tools are not
designed to account for current market conditions and any
short-term market fluctuations. The optimization tools may seek to
estimate individual tax circumstances but cannot incorporate all
individual tax information, potentially leading to
inaccuracies.
About BlackRock
BlackRock's purpose is to help more and more people experience
financial well-being. As a fiduciary to investors and a leading
provider of financial technology, we help millions of people build
savings that serve them throughout their lives by making investing
easier and more affordable. For additional information on
BlackRock, please visit www.blackrock.com/corporate
Media Contacts
Elizabeth Shim
Haven Tower Group
(424) 317-4861
eshim@haventower.com
Reem Jazar
BlackRock
(646) 357-6135
reem.jazar@blackrock.com
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SOURCE Vestmark, Inc.