08:58 AM EDT, 09/24/2024 (MT Newswires) -- BlackRock ( BLK ) has signed a commercial partnership deal with wealth management software and services provider Vestmark, the latter said Tuesday.

Financial terms were not disclosed.

Vestmark said the partnership is intended to augment custom model portfolio services for registered investment advisors, allowing them to provide investment offerings that are "personalized for tax at scale." Under the partnership, the company said that BlackRock ( BLK ) will offer standard and RIA custom model portfolios through Vestmark's Manager Marketplace.

Vestmark added that a major component of the partnership is its Unified Managed Account, which it said is intended to integrate the implementation of mutual funds, exchange-traded funds, equity and fixed-income separately managed accounts, and alternatives into one custodian account.

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