Vestmark announced the opening of the Vestmark Center for AI Research and Development, known as the CARD, a new Boston-based center focused on developing AI-enabled and software solutions for the wealth management industry.
The CARD expands Vestmark’s AI and R&D capabilities by creating a dedicated hub for engineering, product development, experimentation, and team growth. And the center is designed to support Vestmark’s growing advanced R&D team, attract specialized technology talent, and accelerate new capabilities across portfolio management, trading, tax optimization, and advisor workflows.
This launch follows a period of increased AI investment at Vestmark. The company recently appointed Freedom Dumlao as Chief AI Officer, expanding his existing role as Chief Technology Officer. Under his leadership, Vestmark also launched Vestmark Pulse, an AI intelligence solution that continuously monitors client portfolios, surfaces timely insights, and helps wealth managers take action within existing Vestmark workflows.
Vestmark said the CARD represents the next step in its broader strategy to responsibly embed AI across its platform and build new solutions for wealth management firms.
Vestmark currently supports 6 of the 10 largest managed account program providers. Its technology supports more than $2 trillion in assets, more than five million investor accounts, and more than 72,000 financial advisors.
KEY QUOTES:
“Vestmark has invested in its platform for more than two decades to help wealth managers address some of the industry’s most complex portfolio-management challenges. The CARD extends that commitment by expanding our AI and R&D capabilities and giving our teams a dedicated environment to grow, experiment, and bring new capabilities to market faster. It is an investment in our people, our technology, and the future needs of our clients.”
Karl Roessner, Chief Executive Officer at Vestmark
“Great products come from talented people working closely together, challenging assumptions and turning ambitious ideas into something real. The CARD gives our engineers and product teams a dedicated place to build, test, and accelerate the next generation of AI-enabled wealth technology. We have already seen what is possible with Pulse, and we are just getting started.”
Freedom Dumlao, Chief AI Officer and Chief Technology Officer at Vestmark
