Envestnet, a leading Adaptive WealthTech company serving more than a third of all advisors across all its platforms and $8 trillion in platform assets, announced a definitive agreement to acquire Vestmark, a premier provider of portfolio management technology, institutional-grade trading, and outsourced investment management services for some of the industry's largest wealth firms. Vestmark supports more than $2 trillion in assets and five million-plus accounts. 

As wealth management firms grow, their operating models change along with what they require from technology. Adding Vestmark enables Envestnet to solve more complex wealth management challenges for more firms and advisors. With Vestmark, the Envestnet adaptive wealthtech platform scales more effectively to support all firms, from emerging RIAs to the largest advisory firms in the industry, across their wealthtech needs. The result is one connected ecosystem across the full wealth management lifecycle, from understanding an investor's needs to constructing, personalizing, implementing, trading, and managing portfolios at scale. 

WilmerHale advised Vestmark on the acquisition.

The WilmerHale M&A team was led by Andrew Bonnes and Hal Leibowitz and included Jeffries L. Oliver-Li, Wei Xiao and Jaclyn Schofield, with support from Amanda Albert, Ciara Baker, A. William Caporizzo, Ariella Feingold, Barry Hurewitz, Jeff Johnson, Ben Kelsey, Michael Lenzi, Alvaro Mateo Alonso, Kirk Nahra, Stephanie Nicolas, Hartmut Schneider, Timothy Silva, Andrew Stauber, Cole Swaffield, Brandt Tierney and Kim Wethly.