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US Patent for Reconciliation Solution Affirms Vestmark's Innovative Technology

Wakefield, MA - Nov 28, 2012 - Vestmark, a leading innovator of advisory solutions and wealth management technology, today announced that it was awarded a US Patent for its streamlined reconciliation solution available through VestmarkONE, the firm's unified wealth management platform.

US Patent 8,175,943 B1 "System and Method for Reconciling Financial Records" patent describes a range of unique functionality and capabilities invented by Vestmark to streamline and enhance the reconciliation process for financial institutions, including:

  • Auto-acceptance of values and transactions provided by the custodian or system-of-record based on user-defined rules
  • Automatic pairing between unmatched transactions and open trade orders
  • Reconciliation of back-dated transactions
  • Accommodation of settlement-date positions and trade-date positions, ignoring breaks that are solely due to timing differences of reflected positions

"Vestmark is proud to build on our history of innovation by providing our customers with solutions that bring an unprecedented level of scale, efficiency and data accuracy to reconciliation operations, improving the timeliness and precision in critical functions such as trading and performance measurement," said Heeren Pathak, Chief Technology Officer of Vestmark.

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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.

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Vestmark Advisory Solutions, Inc. (“VAS”), a wholly-owned subsidiary of Vestmark, Inc., is an investment advisor registered with the U.S. Securities and Exchange Commission (“SEC”). VAS acts as a paid sub advisor and/or overlay portfolio manager offering VAST and tax optimization services. Registration does not imply a certain level of skill or training. VAS has its principal place of business in Wakefield, MA. Investing involves risk. The value of an investment will fluctuate over time, and an investor may gain or lose money. Past performance is no guarantee of future returns and individual investor results will vary. Please consult our full disclosure document for a discussion of risks related to the services provided by VAS.