Vestmark Raises $11.7 Million

According to a recent SEC filing, fintech startup Vestmark has raised $11.7 million in financing from an undisclosed investor.

Vestmark is a leading technology platform provider delivering wealth management and investment advisory solutions. The company’s advanced monitoring functionality compares users’ portfolios with model weights, sends alerts if the portfolio drifts from the model allocation targets, and enables users to rebalance accounts while incorporating optimal tax lot selection, trade minimization, and compliance rules. The company’s technology services more than 40 institutions, 25,000 advisors, more than $600 billion in assets, and two million investor accounts.