Wakefield-based Vestmark announced the opening of a new facility dedicated to building AI-enabled software solutions for wealth management. The center, located in Boston, is called the Vestmark Center for AI Research and Development, otherwise known as the CARD.
Vestmark provides financial institutions and advisors with portfolio management solutions and outsourced services. The company recently launched Pulse, an AI intelligence tool for monitoring client portfolios and surfacing insights. Its new facility builds on its AI investments and will expand Vestmark’s R&D capabilities by serving as a dedicated hub for engineering, product development, experimentation and team growth.
“Vestmark has invested in its platform for more than two decades to help wealth managers address some of the industry’s most complex portfolio-management challenges,” Karl Roessner, Vestmark’s CEO, said in a statement. “The CARD extends that commitment by expanding our AI and R&D capabilities and giving our teams a dedicated environment to grow, experiment and bring new capabilities to market faster. It is an investment in our people, our technology and the future needs of our clients.”
