Contact Information: Contact: Vestmark 781-224-3640
Over 500,000 Accounts Now Managed on Vestmark
New Clients and Existing Customer Growth Pushes the Accounts on the Vestmark Platform Over the Half Million Mark
| Source: Vestmark, Inc.
WAKEFIELD, MA--(Marketwire - August 27, 2009) - Vestmark today announced continued momentum
in the Managed Accounts Solutions market with over 500,000 accounts now
managed on the Vestmark Platform. This account growth comes from new
clients converting to the Vestmark Platform as well as from new account
flows with existing clients.
"Despite the challenging market conditions of the last year, utilization of
Vestmark across our client base has continued to grow," said John Lunny,
CEO of Vestmark. "This growth has come across the various market segments
we serve, including asset managers, broker dealers, bank trusts,
independent RIAs, and outsourcing providers."
The Money Management Institute, the national organization for the Managed
Account Solutions industry, recently announced that assets under management
in managed account solutions stand just under $1.2 trillion as of March 31,
2009.
About Vestmark
Vestmark is a full service investment technology provider for sponsors,
overlay managers, asset managers, and operations outsourcing service
providers in the managed accounts industry. Vestmark's solution enables
increased operational efficiency, greater regulatory compliance and
investment product innovation for its customers. The Vestmark Platform is a
modern, web-based platform providing complete functionality and
connectivity to support the innovation in managed account solutions and the
growth of the managed accounts industry. Vestmark is headquartered in
Wakefield, Massachusetts with offices in Oakland, California; Cambridge,
Massachusetts; and Jersey City, New Jersey. For more information about
Vestmark's managed accounts platform solutions, please call 781-224-3640,
email inquiry@vestmark.com, or visit www.vestmark.com.