Vestmark introduced innovative enhancements that enable financial advisors to group accounts across products into a single, consolidated household view, and manage households to custom asset allocation targets
Wakefield, MA - May 2, 2007 - Vestmark, the leading managed accounts platform provider, today announced the successful completion of the first production version of its Householding Module. Vestmark’s householding capabilities enable advisors to group accounts across account types, investment products, and individuals into a single, consolidated household view. Advisors can now efficiently monitor and manage their clients’ households to custom asset allocation targets.
Vestmark recognized the need for the Unified Managed Household (UMH) and embarked upon the development of the technology through a strategic partnership with Robert W. Baird & Co. (Baird). Vestmark’s reputation for collaborative and disciplined product development and industry leading technology led Baird to partner with Vestmark to realize its vision. "Unified Managed Households is the right solution for our clients and we believed that we could deliver this solution with a collaborative partner and technology," said Kristine Slamka, Director of Product Management at Baird.
"In developing new modules for our managed accounts platform, our philosophy has been to partner with forward-thinking clients, define a vision, and deliver a solution that works in the real world,” said Rob Klapprodt, President of Vestmark Software. “Working with Baird to deliver an industry leading UMH solution is a great example of Vestmark enabling innovative solutions for our customers."
"Being able to manage family assets in a holistic way enables us to give our Financial Advisors a competitive advantage. The HouseholdView technology provides them with the tools they need to manage clients’ assets efficiently and dynamically across investment products and account registrations," said Ms. Slamka. "The response to HouseholdView at our recent biennial advisor symposium was overwhelmingly positive."
About Baird:
Baird is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. Established in 1919, Baird has more than 2,200 associates serving the needs of individual, corporate, institutional and municipal clients. Baird oversees and manages client assets of more than $71 billion. Committed to being a great place to work, Baird was recognized as one of the FORTUNE 100 Best Companies to Work For in 2004, 2005, 2006 and 2007. Baird’s principal operating subsidiaries are Robert W. Baird & Co. in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird’s private equity operations. For more information, please visit Baird’s website at www.rwbaird.com.
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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.
Elizabeth Shim
Haven Tower
(424) 317-4861
eshim@haventower.com
