Vestmark Teams with BlackRock to Enhance Custom Model Portfolio Offerings

Rhea-AI Summary

Vestmark has announced a commercial partnership with BlackRock (NYSE: BLK) to enhance custom model portfolio solutions for registered investment advisors (RIAs). This collaboration combines Vestmark VAST's tax management capabilities with BlackRock's custom model portfolio construction expertise, offering personalized investment solutions at scale.

Key aspects of the partnership include:

• BlackRock will offer standard and RIA custom model portfolios through Vestmark's Manager Marketplace
• Vestmark's Unified Managed Account (UMA) platform integrates various investment strategies within a single custodian account
• Advisors will gain access to Vestmark VAST®, providing personalization and tax management at scale
• The collaboration aims to expand choice for RIAs seeking portfolio design solutions

Vestmark supports six of the ten largest managed account platforms, with $1.5 trillion in assets flowing through its platform and over 65,000 advisors having access to its model marketplace.

Positive

• Partnership with industry leader BlackRock enhances Vestmark's market position
• Expansion of custom model portfolio offerings for RIAs
• Integration of advanced tax management capabilities with portfolio construction
• Access to Vestmark's platform for 65,000+ advisors
• $1.5 trillion in assets flowing through Vestmark's platform

Negative

• None.

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

View original content:https://www.prnewswire.com/news-releases/vestmark-teams-with-blackrock-to-enhance-custom-model-portfolio-offerings-302256549.html

SOURCE Vestmark, Inc.

FAQ

What is the purpose of Vestmark's partnership with BlackRock (BLK)?

The partnership aims to enhance custom model portfolio solutions for registered investment advisors (RIAs) by combining Vestmark VAST's tax management capabilities with BlackRock's custom model portfolio construction expertise.

How will the Vestmark-BlackRock (BLK) partnership benefit financial advisors?

The partnership will provide advisors with personalized investment solutions at scale, offering access to a comprehensive suite of model portfolios and Vestmark VAST® for tax management and personalization.

What is Vestmark's Unified Managed Account (UMA) platform?

Vestmark's UMA platform integrates the implementation of mutual funds, ETFs, equity and fixed-income SMAs, and alternatives within a single custodian account, offering a comprehensive solution for wealth managers.

How many advisors have access to Vestmark's model marketplace?

Over 65,000 advisors supported by Vestmark technology have access to a model marketplace with more than 1,200 strategies.