Customer growth, expanded connectivity to sponsor systems, and increased functionality positions Vestmark as the leading next generation platform for cost effective support of managed account solutions
Wakefield, MA - November 12, 2008 - Vestmark today announced increased momentum in the Managed Accounts Solutions market, highlighted by strong customer growth, an expanded connectivity offering, and increased functionality. Assets under management (AUM) on the Vestmark Managed Accounts Platform (VMAP) stand at over $80 billion representing over 400,000 accounts. This growth has been driven by the operational efficiencies, compliance support and product innovation VMAP provides to Vestmark customers and partners.
"The benefits of our technology provide a compelling return on investment for our customers," said John Lunny, CEO of Vestmark. "As a testament to the value of our technology, assets managed on VMAP have quadrupled in the past two years as new clients come on board and existing clients expand their usage of the technology."
The Money Management Institute, the national organization for the Managed Account Solutions industry, recently announced that assets under management in managed account solutions stand at $1.3 trillion as of September 30, 2008.
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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
