Vestmark, a company serving wealth management firms with solutions for portfolio management and institutional-grade trading, announced its upcoming acquisition by Envestnet, a wealthtech platform helping advisors improve decision-making. The acquisition will incorporate Vestmark’s capabilities into Envestnet’s platform, enabling it to solve more complex wealth management challenges for clients.
“Envestnet and Vestmark bring complementary capabilities and expertise to the market, and together we can create something neither company could deliver on its own,” Karl Roessner, Vestmark’s CEO, said in a statement. “We will build on the technology, services and client relationships that have made Vestmark successful, while accelerating investment in portfolio management, tax management and AI-driven capabilities that help wealth management firms operate more efficiently and deliver better outcomes for their clients.”
Vestmark works to help wealth management firms manage personalized client portfolios efficiently and at scale, with offerings that include outsourced investment management services. Integrating its technology into Envestnet’s platform is expected power a connected solution for the full wealth management lifecycle, enabling advisors to construct, personalize, implement, trade and manage portfolios at scale.
