Vestmark is partnering with BlackRock to boost its custom model portfolio solutions geared toward registered investment advisors (RIAs), the companies announced in a statement last week.
BlackRock will offer its standard and RIA custom model portfolios through Vestmark’s Manager Marketplace, which serves as a platform that allows wealth managers to access and deploy investment strategies. BlackRock will also integrate with Vestmark’s Unified Managed Account (UMA) platform, a feature that incorporate mutual funds, exchange-traded funds (ETFs), equity separately managed accounts (SMAs), fixed-income SMAs, and alternatives within a single custodian account.
Wealth managers utilizing BlackRock’s model portfolios will also have access to Vestmark VAST, a personalization and tax management solution intended to streamline workflows for advisors. Its features include onboarding, investment selection, portfolio construction and tax management, among other services.
Vestmark and BlackRock say it hopes the new collaboration will fortify their role as a solution that merges portfolio management with tax management strategies.
“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, in a statement. We are excited to offer our unique UMA proposition to advisors, providing an innovative, sophisticated solution to help meet their clients’ diverse needs.”
“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, headquartered in Wakefield, MA, services 5.5 million accounts with $1.5 trillion in assets. More than 65,000 advisors supported by Vestmark technology have access to a model marketplace with more than 1,200 strategies.
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Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.