Vestmark and BlackRock Team Up to Transform Investment Solutions
Vestmark Partners with BlackRock for Investment Innovation
Vestmark, Inc., a notable provider of wealth management software and services, recently announced a strategic partnership with BlackRock (NYSE: BLK), focusing on enhancing model portfolio offerings for registered investment advisors (RIAs). This alliance marks a significant step toward providing advisors with comprehensive investment solutions that can be tailored according to tax considerations.
Enhancing Tax Management Capabilities
By integrating Vestmark VAST's tax management features across equities, ETFs, and separately managed accounts (SMAs) with BlackRock's custom portfolio construction expertise, this collaboration allows financial advisors to deliver personalized investment solutions on a larger scale. In doing so, they can manage sophisticated portfolios that align better with their clients' financial goals.
Vestmark's Unique Proposition
At the heart of this partnership lies Vestmark’s Unified Managed Account (UMA) platform, which streamlines the implementation of a variety of investment vehicles into a single custodian account. This innovative structure enables wealth managers to optimize their offerings, significantly enhancing their operational efficiencies.
Leadership Insight
Karl Roessner, CEO of Vestmark, expressed his enthusiasm about the partnership, saying, "Collaborating with BlackRock reflects the trust that the industry's leaders place in our capabilities. This partnership strengthens our offering, blending advanced portfolio management with robust tax management features that elevate client services to a new level." Their joint effort specifically aims to meet the evolving needs of advisors in a dynamic market.
Accessing Extensive Model Portfolios
This partnership ensures that advisors gain access to a wide range of carefully managed model portfolios through Vestmark’s Manager Marketplace. Wealth managers utilizing BlackRock's model portfolios will benefit from Vestmark VAST's unique capabilities, which include enhanced personalization and comprehensive tax management.
Commitment to Innovation
Eve Cout, Head of Portfolio Design & Solutions at BlackRock, stated, "Our collaboration with Vestmark allows us to expand choices for RIAs seeking portfolio design solutions. This partnership highlights BlackRock’s dedication to equipping advisors with advanced tools and resources, enabling them to craft portfolios that incorporate mutual funds, ETFs, and SMAs seamlessly."
A Strong Position in the Market
Vestmark is a crucial player in the wealth management technology sector, supporting some of the largest managed account platforms with a staggering $1.5 trillion in assets flowing through its system. With over 65,000 advisors leveraging Vestmark's technology, the platform provides access to a considerable model marketplace boasting more than 1,200 strategies. This extensive reach underscores Vestmark’s pivotal role in the industry.
About Vestmark
Founded in 2001 and situated in Wakefield, Vestmark has established itself as an essential provider of portfolio management solutions and outsourced services. The firm enables financial institutions and their advisors to effectively manage customized client portfolios through its innovative technology platform. Serving more than $1.5 trillion in assets and 5.5 million accounts, Vestmark partners with leading wealth management firms, showcasing its reliability and performance.
About BlackRock
BlackRock is committed to promoting financial well-being among individuals, serving as a fiduciary to investors and a leading provider of financial technology. The firm assists millions in building savings that last through various life stages by simplifying the investment process. For further details on BlackRock’s offerings, interested parties can visit their corporate site.
Frequently Asked Questions
What is the significance of the Vestmark and BlackRock partnership?
The partnership aims to enhance model portfolio offerings for registered investment advisors, allowing them to provide personalized investment solutions that consider tax implications.
How will this partnership benefit financial advisors?
Financial advisors will have access to a comprehensive suite of managed model portfolios that are rebalanced and managed, improving their capability to serve clients.
What technologies will be integrated into this partnership?
This partnership integrates Vestmark's VAST tax management capabilities with BlackRock's extensive portfolio construction technology.
What is the Unified Managed Account (UMA) platform?
The UMA platform incorporated in this partnership allows wealth managers to manage multiple investment products within a single custodian account, streamlining operations.
What is Vestmark's market presence?
Vestmark supports six of the top ten largest managed account platforms and boasts substantial assets, making it a leader in the wealth management technology space.
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