Corient, one of the top wealth houses in the US, has formed a partnership with Vestmark, a firm that focuses on technology and services for the North American wealth sector.

Vestmark, which provides wealth management software and services, has formed a partnership with Corient, the UK wealth advisor.

Corient, which has about $177 billion of assets, will use Vestmark’s portfolio management and trading technology solutions across its entire business, Vestmark said in a statement this week. The move will allow Corient to incorporate investment solutions into a single platform. 

The deal is a coup for Vestmark, which says it supports six of the industry’s 10 largest managed account platforms, with $1.5 trillion in assets flowing through its platform.

In July 2023 Vestmark unveiled what it calls VAST, an outsourced portfolio management service focused on personalization at scale. The offering is a direct indexing service. (The term “direct indexing” relates to an investment strategy that involves purchasing the components of an index directly, rather than through a mutual fund or exchange-traded fund.)

In early April this year, Family Wealth Report spoke to Vestmark about its approach to AI.

Corient’s M&A ambitions were on show in January this year when it bought Geller’s multi-family office business. Geller MFO, based in New York, has $10.4 billion in assets under management and advisement.