Wealth management software firm Vestmark is now working with Fidelity Investments to offer eligible RIAs and broker-dealers access to a custom, open-architecture model portfolio platform.
The Vestmark platform will let advisors use models with semi-liquid interval funds, separately managed accounts, exchange-traded funds and mutual funds within a single portfolio and custodial account.
The platform will be offered through Fidelity at no cost to certain participating RIA and broker-dealers, although the service isn’t free for SMAs.
"We are excited to work with Fidelity to provide advisors with access to custom model portfolios that support personalized investment solutions and leverage Vestmark's robust tax-optimization capabilities to help meet their clients' unique needs," Vestmark CEO Karl Roessner said.
Vestmark is providing tax and overlay management across the entire unified managed account, optimizing and rebalancing both public and private holdings.
“With growing demand from advisors for more tailored investment strategies, Fidelity continues to lead in scalable customization and advanced portfolio construction," said Amanda Robinson, head of Fidelity’s wealth advisory managed solutions specialist distribution.
“These solutions are fully integrated with Vestmark’s platform and supported by Fidelity’s unique institutional research and investment expertise,” she added.
Advisors can direct personalized capital gains budgets and transition accounts with embedded gains, bringing sophisticated tax management to a broader range of clients, according to Vestmark.
Image: Shutterstock
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.