Envestnet has signed a definitive agreement to buy Vestmark, a move aimed at strengthening its wealth-technology platform as advisors demand more advanced trading, tax, and portfolio tools. The companies announced the transaction on September 9, 2026.
Financial terms were not disclosed.
Closing is expected in the fourth quarter, subject to customary conditions.Envestnet describes itself as an Adaptive WealthTech firm serving more than a third of US advisors and about $8 trillion in platform assets.
Vestmark, founded 25 years ago, provides portfolio-management software, institutional-grade trading, tax-transition tools, and outsourced investment management.
It supports more than $2 trillion in assets and over five million accounts, with a client base that includes some of the industry’s largest wealth firms, including wirehouses.
The strategic case is complementarity.
Envestnet has long been strong in advisor workflows, planning, and platforms such as Tamarac and MoneyGuide.
Vestmark adds heavier operational machinery: rebalancing, household-level customization, tax overlays, and transition management that large firms need as they personalize portfolios at scale.
Together, the firms say they can cover more of the wealth-management lifecycle—from understanding client needs through construction, personalization, implementation, trading, and ongoing management—without forcing clients to switch systems.
Leadership framed the deal as additive rather than a teardown.
Envestnet CEO Chris Todd said wealth offerings have been too siloed, with advisors, traders, and portfolio managers locked into separate tools.
Combining the companies, he argued, gives firms a platform that can grow with them.
Vestmark CEO Karl Roessner said the pairing brings capabilities neither firm could deliver alone and that Vestmark will keep building on its existing products while accelerating work in portfolio management, tax management, and AI.
Both companies pledged to keep investing in current roadmaps.
VestmarkONE and VAST remain central. Envestnet will continue work on Envestnet Enterprise, Tamarac, MoneyGuide, and recent launches such as Wealth Trading.
Over time, Vestmark clients are expected to gain access to Envestnet reporting and planning tools, while Envestnet clients gain modular trading, rebalancing, and tax-transition features, including Vestmark’s Pulse AI monitoring tools.
Client-facing teams and products will keep serving existing users, with no required platform migration.
The deal also reflects a broader industry pattern: wealth firms are growing, operating models are becoming more complex, and technology must scale without adding headcount.
Envestnet, taken private by Bain Capital and partners in 2024, has been investing heavily in its stack, including a multi-year technology commitment and a rebuilt trading platform earlier in 2026.
Adding Vestmark expands its reach from independent broker-dealers and RIAs toward larger, more institutionally oriented firms.
Advisors included Ropes & Gray and several investment banks for Envestnet, and WilmerHale plus Raymond James and Berenson for Vestmark. If completed, the combination would create a larger connected ecosystem while preserving the products and relationships that built each company.