Financial advisors spend countless hours trying to customize investment portfolios for their clients. Despite their best efforts, they feel overwhelmed by the sheer volume of data and the need for personalization that each client demands.
Now, with the partnership between BlackRock and Vestmark, advisors can breathe a sigh of relief, according to a recent announcement. This collaboration offers them instant access to BlackRock’s customized investment solutions directly through the Vestmark platform, streamlining the process and allowing them to focus more on what truly matters – building relationships and delivering tailored investment strategies to their clients.
The integration comes as a game-changer for advisors facing time constraints, says Karl Roessner, CEO of Vestmark. In a Q&A with Digital Wealth News, Roessner discussed how the seamless, scalable implementation through Vestmark means that advisors no longer need to juggle multiple systems or spend hours on administrative tasks. Advisors can leverage a solution that blends advanced portfolio management with tax management capabilities on Vestmark’s Unified Managed Account (UMA) platform that combines different investments within a single custodian account.
Digital Wealth News: How will this partnership with BlackRock enhance the capabilities of financial advisors using the Vestmark platform?
Karl Roessner: This partnership with BlackRock will significantly improve the capabilities of financial advisors using the Vestmark platform. Advisors will gain instant access to customized investment solutions from BlackRock, allowing them to offer more tailored and effective strategies to their clients.
In a 2023 J.D. Power survey, about one-third of advisors mentioned that time constraints are a major challenge, particularly citing a lack of hours in the day for client meetings. The integration with Vestmark ensures a seamless and scalable implementation, making it easier for advisors to manage and deploy these solutions efficiently and save time. By giving advisors back their time this collaboration not only streamlines the process but also empowers advisors to better meet their clients’ needs with high-quality, personalized investment options.
DWN: What role does Vestmark’s Unified Managed Account (UMA) platform play in this collaboration, and how does it benefit advisors?
KR: Vestmark’s Unified Managed Account (UMA) platform plays a crucial role in this collaboration by enabling the comprehensive management of a wide range of investment products within a single custodial account. This integration simplifies the investment process for financial advisors, allowing them to efficiently oversee and implement diverse investment strategies without the need for multiple accounts. The UMA platform’s streamlined approach enhances operational efficiency, reduces administrative burdens, and provides a more cohesive investment experience. Advisors benefit from the ability to offer their clients a broader array of customized investment solutions, ultimately improving client satisfaction and fostering stronger advisor-client relationships.
DWN: How does this partnership reflect the broader trend of innovation and growth in the model portfolio business?
KR: It also exemplifies the broader trend of innovation and growth in the model portfolio business by expanding beyond the traditional focus on ETFs and Mutual Funds. With Vestmark VAST’s advanced capabilities, financial advisors can now manage a diverse array of investment vehicles, all within a single account. This integration not only streamlines the management process but also provides advisors with greater flexibility and customization options. As a result, advisors can offer more tailored and sophisticated investment solutions, meeting the evolving needs of their clients and staying ahead in a competitive market. This collaboration also highlights the industry’s shift towards more comprehensive and versatile investment management platforms.
