Vestmark Partners with iCapital, BlackRock, and Dynasty to Launch UMA with Private Assets
Vestmark, Inc. has launched a tax-managed Unified Managed Account (UMA) that integrates private assets alongside public market vehicles, in collaboration with iCapital, BlackRock, and Dynasty Financial Partners. The solution marks a significant step forward in simplifying portfolio construction for registered investment advisors (RIAs) seeking access to both traditional and alternative investments in a single custodial account.
The UMA enables advisors to blend subscription-based alternatives with ETFs, mutual funds, equity SMAs, fixed income SMAs, and direct index SMAs—all within one diversified, tax-managed portfolio. The goal is to deliver institutional-grade investment access and operational simplicity within a highly scalable framework.
Leveraging iCapital’s technology platform, the UMA streamlines advisor workflows and integrates BlackRock’s asset allocation models, which combine both public and private market exposures. Dynasty-affiliated advisors will be among the first to utilize this solution, with the broader RIA market to follow.
“The wealth management industry has for too long been on the precipice of UMAs fulfilling their promise of simplicity and efficiency. With what we are launching today, Vestmark is fulfilling that promise,” said Karl Roessner, CEO of Vestmark.
Eve Cout, Head of Solutions for BlackRock’s U.S. Wealth Business, added: “This collaboration with Vestmark, iCapital, and Dynasty allows us to continue expanding choice to RIAs, providing them with the ability to access private markets, SMAs, as well as public markets in a single account.”
Founded in 2001 and based in Wakefield, MA, Vestmark is a major player in the managed accounts industry, supporting six of the 10 largest platforms, with $1.7 trillion in assets flowing through its technology.
This launch builds on Vestmark’s recent partnerships, including its March 2025 collaboration with Pensionmark Financial Group to deliver tax-aware multi-asset portfolios, and a separate agreement with Invesco to enhance model portfolio distribution to RIAs.
in recent years, model portfolios have become an ever-compelling solution for wealth manager and the trend of outsourcing portfolio construction is expected to continue to grow. Cerulli Associates projects that model portfolio assets will reach $2.9 trillion by 2026.