CHARLOTTE, N.C., March 5, 2019 /PRNewswire/ -- Three months after being acquired by Vestmark, Adhesion Wealth Advisor Solutions (Adhesion) is pleased to announce multiple milestones and new growth initiatives.
Adhesion has successfully served the RIA market with an outsourced managed account solution that leverages Vestmark's customized software-as-a-service (SaaS) wealth management platform, VestmarkONE. In doing so, Adhesion provides RIAs with better service, greater control, and more flexibility than other technology providers.
Since the acquisition closed in the fourth quarter of 2018, Adhesion and Vestmark have begun implementing a strategic plan to accelerate growth and provide RIAs with a premier outsourced managed account platform. Over the last three months:
- Adhesion has grown its client base by 16%.
- Adhesion has enjoyed increased sales momentum with the addition of 17 new RIA clients.
- Adhesion has added 10 new asset managers and dozens of new models to Adhesion Xchange, its manager marketplace.
- The sales team welcomed industry veteran Doug Wallace in February 2019. Doug will be based in Denver, and joins Adhesion after successful stints at Advisory World, Envestnet, and Placemark.
- Vestmark has made a significant investment in growing the Adhesion team. Adhesion's headcount will increase by nearly 50% by the end of 2019 to accelerate Adhesion's roadmap and further enhance its suite of white-glove services.
"We're thrilled to be part of the Vestmark team and have spent the past three months laser-focused on two things: continuing to provide great service to our clients and finalizing an aggressive strategy to accelerate our product and services roadmap," said Barrett Ayers, President of Adhesion Wealth. "We couldn't be happier with Vestmark's commitment, level of investment, and culture as we work together to build a better company for our clients."
"Barrett and the Adhesion team have already made many positive contributions to Vestmark. We've been impressed with their deep knowledge of the RIA marketplace and passion for providing unparalleled client service," said John Lunny, CEO of Vestmark. "They've developed a strategic vision to make Adhesion one of the biggest and best outsourced managed account platforms for RIAs. We're excited to invest in that vision and provide the resources required to continue to meet that goal."
Vestmark enables financial institutions and advisors to efficiently manage and trade their clients' portfolios through an innovative software as a service (SaaS) platform, VestmarkONE. Registered investment advisors (RIAs) and financial institutions can pick and choose from Vestmark's dynamic suite of portfolio and practice management tools and services to build customized solutions for meeting their business needs and improving investment outcomes for clients.
Founded in 2001 and headquartered outside of Boston, Vestmark is a trusted partner to some of the largest and most respected players across the wealth management industry. The firm currently manages more than $1.3 trillion in assets and 3.5 million accounts. For more information about Vestmark's solutions, call (781) 224-3640, email [email protected], or visit www.vestmark.com.
About Adhesion Wealth Advisor Solutions:
Vestmark's Adhesion Wealth software enables the software as a service (SaaS) VestmarkONE platform to manage an RIA's entire investment process using a high-touch service model—empowering advisors to seamlessly deliver tailored separately managed account (SMA) and unified managed account (UMA) portfolios at scale.
Founded in 1999, Adhesion Wealth is a $3.5 billion UMA platform focused on developing and delivering innovative managed account solutions to investment advisors who desire to bring their clients—and their practices—to the next level. For more information, call (888) 295-8351 or visit www.adhesionwealth.com.
JConnelly for Vestmark
SOURCE Adhesion Wealth Advisor Solutions