Press Release
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Wakefield, MA - January 20, 2010 - Vestmark today announced that over $100 Billion in assets are now being managed on the Vestmark Platform, the industry's most comprehensive, real-time technology platform for fee-based accounts. The asset growth represents 30% year-over-year increase. Vestmark attributes this growth in the wealth management and managed account industry assets to new investment manager, RIA, broker-dealer, bank trust and other financial clients converting to the Vestmark Platform for its trading and operational efficiency, as well as asset growth across Vestmark's existing clients.
"We've remained true to our mission to develop innovative solutions that significantly enhance financial firms' operational efficiency and therefore their bottom line," said John Lunny, CEO of Vestmark. "We're gratified that a growing number of financial firms are choosing Vestmark for our advanced tools, ease of use, and tailored solutions that also increase scalability while reducing compliance risk."
Among its clients, Vestmark boasts a number of the world's largest banking, wealth management and asset management firms, one of the nation's largest broker-dealers and one of the nation's largest providers of Unified Managed Accounts (UMA). Collectively, Vestmark's clients run more than 500,000 accounts on the platform.
"From supporting customized fixed income portfolios to enabling tax intelligent portfolio diversification in UMAs to providing advanced trading tools to advisors, the Vestmark Platform is helping our clients raise assets and better service investors in many ways," said Rob Klapprodt, President of Vestmark. "The exception-based management capabilities of the Vestmark Platform allow our clients to efficiently manage more assets without increasing risk or abandoning the attention given to any individual investor."
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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.
Media Contact
Elizabeth Shim
Haven Tower
(424) 317-4861
eshim@haventower.com