WAKEFIELD, MA--(Marketwired - November 03, 2016) - Vestmark, a leading innovator of unified wealth management® solutions, is pleased to announce that the Vestmark Manager Marketplace (VMM) service achieved the "Most Innovative New Application" in the 2016 WealthManagement.com Industry Awards.
Launched earlier this year, VMM efficiently connects asset managers with sponsors (RIAs, Banks, Broker Dealers) who use third-party management in model portfolio format or in separately managed accounts. Under this transparent, custodian-agnostic service, advisors sign a single contract to obtain access to a wide array of participating asset managers and investment strategists who deliver models to VMM or manage accounts directly using Vestmark technology. VMM handles the operational due diligence, manager negotiation and contracting, as well as the fee calculation and payment. Similarly, asset managers gain access to multiple distribution channels via a single portal and with transparent reporting and invoicing.
Since March, VMM has provided access to a rapidly growing roster of asset managers and investment strategists, including firms such as Morningstar Investment Services and Wilshire Funds Management.
"Vestmark strives to stay ahead of the curve by not only recognizing and meeting our clients' evolving needs but by preceding them with enhanced technology and new services, such as VMM," said John Lunny, CEO of Vestmark. "We're honored to be recognized by WealthManagement.com as an innovative leader for our platform as a service offering. Before VMM, sponsors seeking to leverage the expertise of third-party asset managers were met with a limited set of options. The Vestmark Manager Marketplace provides access to an entire marketplace of investment solutions while removing the overhead associated with managing multiple relationships."
The WealthManagement.com Industry Awards recognize outstanding achievement, innovation, and support among vendors and suppliers serving the financial advisor industry. Recipients were announced at a black-tie gala event on September 29, 2016 at the Mandarin Oriental Hotel in New York City.
Details about the WealthManagement.com Industry Awards and a full list of the 2016 winners can be found on WealthManagement.com's website. For more about the Vestmark Manager Marketplace, click here.
Vestmark is the premier technology provider for comprehensive unified wealth solutions utilized by financial advisors and institutions. Vestmark provides VestmarkONE, the award-winning technology platform, to help clients gather more assets, increase operating efficiency, and minimize risk. Since 2001, the platform has grown to manage over 1.7 million accounts, representing over $600 billion in assets under management.
For more information about Vestmark's solutions, visit www.vestmark.com.