Vestmark, Allspring Partner to Roll Out Tax-Based Offering to RIAs

Vestmark has partnered with asset management firm Allspring Global Investments to enable registered investment advisors to develop tax-based model portfolios. 

Vestmark will combine Allspring’s actively managed investment solutions with the platform’s technology, trading and tax capabilities to help advisors manage open-architecture portfolios, including asset allocation and portfolio construction. 

Additionally, the tax-aware solution, which was built on Vestmark’s unified managed account infrastructure, provides access to outsourced investment management and ongoing tax management through Vestmark Advisory Solutions and the platform’s VAST tax-overlay solution. 

Vestmark launched VAST in 2023 and is managed by Vestmark Advisory Solutions, the RIA subsidiary of Vestmark. 

“Advisors increasingly want greater control over portfolio construction without taking on the operational complexity that comes with implementing and managing customized portfolios at scale,” said Rob Battista, Executive Vice President of Advisory Solutions at Vestmark. 

Vestmark’s latest partnership comes shortly after Vanguard tapped the platform to provide trading, tax management, and advisory services, after Vanguard launched the Vanguard Custom Model Portfolios for advisors. 

In August, Allspring partnered with Aiviq to build an enterprise-grade Client Book of Record platform, which will consolidate client assets, investment flows, and sales attribution across Allspring’s distribution business. 

Allspring Global Investments oversees $603 billion in assets under advisement. 

Vestmark’s technology supports over $2 trillion in total assets, five million investor accounts, and 72,000 financial advisors.