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DoL Conflict of Interest Rule Sparks Urgency to Incorporate Robo Advice Solutions Under Fully-Integrated Platforms

White Paper by Celent and Vestmark Examines Technology Investment Shift Towards Platform Consolidation

Wakefield, MA December 14, 2016 Vestmark, a leading innovator of wealth management technology and advisory solutions, along with research and consulting firm Celent today released a white paper “The Integrated Platform: How Digital Technology is Reshaping the Wealth Management Landscape.” The paper, written by Celent, examines the surging demand for robo advisors and highlights the importance of using an integrated platform to accelerate advice delivery and comply with evolving regulation.

The Department of Labor’s Conflict of Interest rule which requires brokers to disclose any conflicts of interest such as hidden fees coupled with heightened interest in robo advice platforms has caused many wealth managers to re-evaluate their business models. The ability to deliver consistent advice at the asset class, manager and product level, in both a digital and face-to-face context has become paramount in today’s current market and regulatory environment.

The white paper addresses:

  • Strategies to streamline multiple programs and products to create a comprehensive solution that works alongside investment offerings
  • Methods to accommodate business-to-business and business-to-consumer robo models within a single platform
  • Options to accommodate insourcing or outsourcing a digital wealth platform
  • Approaches to consider in order to mitigate operational risk from converting from point to point systems to an integrated platform

“We are pleased to partner on this white paper with Vestmark. The findings indicate that firms that transition from point systems will be well placed to build their own robo offerings, should they desire to do so,” said Will Trout, Senior Analyst at Celent. “This agility will be increasingly critical given the pace of digital change and the cost and regulatory pressures that define the wealth management industry today.”

“After years of market experience, we have learned that collapsing multiple product lines and their technology underpinnings into a coherent whole contributes to a better experience at the advisor and investor level,” said Rob Klapprodt, President of Vestmark. “Our report with Celent not only validates this market experience, but also, suggests the importance of having a strategic view towards technology to assist with looming regulatory risk and to meet evolving investor expectations for a compelling digital experience.”

More findings about the white paper were revealed in a webinar, “The Robo Advice Solution: Creating an Integrated Platform,” featuring panelists Brendan McConnell, COO, Brinker Capital, Will Trout, Senior Analyst at Celent, and Rob Klapprodt, President of Vestmark. To view the recorded webinar and download the white paper, “The Integrated Platform: How Digital Technology is Reshaping the Wealth Management Landscape,” visit Vestmark’s website.

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About Vestmark

Headquartered outside of Boston, MA and founded in 2001, Vestmark is a leading provider of portfolio management/trading solutions and outsourced services for financial institutions and their advisors, enabling them to efficiently manage and trade customized client portfolios through an innovative SaaS platform. Supporting over $1 trillion in assets and 4 million accounts, Vestmark is a trusted partner to some of the largest and most respected wealth management firms. For more information about Vestmark’s solutions, call (781) 224-3640, email, or visit

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