Vestmark, an innovator in the managed accounts platform solutions market, has announced that it is working with Advent Software to leverage Advent custodial data for delivering an integrated data aggregation solution to Vestmark’s clients.
Advent custodial data (ACD) is a portfolio data aggregation solution that is used by over 2,600 investment firms. ACD consolidates account level information from hundreds of custodians for reconciliation and posting. With efficient reconciliation, clients can maintain accurate cash and securities balances, reduce settlement risk, produce client statements earlier and ensure compliant trading.
Heeren Pathak, CTO of Vestmark, said: The integration between the Vestmark managed accounts platform (VMAP) and ACD allows our customers to add high net worth accounts to their business and take full advantage of Vestmark’s advanced account administration, trading, and daily reconciliation capabilities while reducing compliance risk associated with managing these accounts.