Vestmark Advisory Solutions, the SEC-registered investment adviser subsidiary of Wakefield, Massachusetts-based Vestmark, has just passed a key milestone.
The wealth tech provider announced that VAS has crossed $50 billion in AUM, marking a sharp fivefold increase over the past 18 months.
The milestone reflects growing demand from wealth management firms for outsourced, tax-aware portfolio management at scale.
Through VAS, Vestmark provides services including tax management, tax transitions, direct indexing – a strategy that builds portfolios of individual securities to track an index while allowing for tax-loss harvesting – and access to a model marketplace that includes BlackRock, VanEck, and T. Rowe Price, among more than 200 other managers.
Its VAST solution, offered through VAS, provides active tax overlay and optimization across indices, separately managed accounts, ETFs, fixed income, and other securities within a unified managed account (UMA) structure.
"Surpassing $50 billion in assets under management through VAS reflects both the strength of our platform and the trust our clients continue to place in Vestmark," said Karl Roessner, CEO at Vestmark.
The RIA milestone arrives as Vestmark has been accelerating its artificial intelligence buildout. In May, the company launched Vestmark Pulse, which it described as the first AI solution designed to continuously monitor client portfolios, surface suggested actions, and drive execution – all within the platform advisors already use.
The month prior, the firm appointed Freedom Dumlao as its chief AI officer, expanding his existing role as CTO. His remit includes unifying compliance oversight, optimization, and automation into a single operating model.
“The question is not whether AI belongs in wealth management,” Dumlao said. "The question is where it can be used responsibly to help firms make better decisions. The real value comes when AI is connected to trusted data, established workflows and the controls firms already rely on."
Vestmark also took the opportunity to mark its 25th anniversary, with its core portfolio management platform having growtn to support six out of the 10 largest managed account program providers. The company says its platform now encompasses more than $2 trillion in assets, over 5 million accounts, and over 72,00 financial advisors.
“Over the past 25 years, Vestmark has nurtured a culture of innovation that has led to groundbreaking solutions," Roessner said.
"As we look ahead, we remain focused on listening to our clients, investing in our technology and teams, and supporting wealth managers in their mission to operate more efficiently and serve the individuals and institutions who rely on them for sound financial guidance.”
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