The wealth management technology firm Vestmark has launched a new unified managed account platform that supports tax-aware investing in private asset classes.
The firm partnered with iCapital, BlackRock and Dynasty Financial Partners, according to the announcement. The aim is to help RIAs combine subscription-based alternatives with direct indexing capabilities across ETFs, mutual funds and various types of separately managed accounts via a single custodial account.
The initial launch integrates iCapital’s technology platform and tools, allowing Dynasty advisors to incorporate subscription-based alternatives into their UMA portfolios using asset allocation models developed with BlackRock.
Additionally, the offering provides access to BlackRock’s asset allocation and portfolio design capabilities across private and public markets, featuring simplified administration and custodial integration in a single account.
Karl Roessner, Vestmark CEO, said in a statement that the platform enhances UMAs' simplicity and efficiency — something advisors have sought for a long time.
“We are honored to collaborate with iCapital, BlackRock and Dynasty to bring this long-awaited and truly innovative solution to fruition,” Roessner said. “We are excited for how this offering will revolutionize the advisor experience.”
Eve Cout, head of solutions for BlackRock’s U.S. wealth business, added that the collaboration with Vestmark, iCapital and Dynasty will deliver expanding choice to RIAs, “providing them with the ability to access private markets, SMAs, as well as public markets in a single account.”
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