Over 500,000 Accounts Now Managed on Vestmark
Wakefield, MA -
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.
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