Vestmark, a provider of wealth management software and services, has launched a tax-managed unified managed account (UMA) that integrates private assets, developed in partnership with iCapital, BlackRock, and Dynasty Financial Partners.This new capability is designed for Registered Investment Advisors (RIAs) seeking to combine subscription-based alternative investments with traditional assets such as ETFs, mutual funds, equity SMAs, fixed income SMAs, and direct index SMAs within a single custodial account. The solution aims to provide advisors with a streamlined and scalable process for allocating to alternative investments within a diversified UMA construct.The initial launch integrates iCapital’s technology platform and tools, enabling Dynasty Financial Partners advisors to incorporate subscription-based alternatives into their UMA portfolios. These portfolios utilize asset allocation models developed in collaboration with BlackRock. The offering includes access to BlackRock’s asset allocation and portfolio design capabilities across both private and public markets, featuring simplified administration and custodial integration.Karl Roessner, CEO of Vestmark, stated, “The wealth management industry has for too long been on the precipice of UMAs fulfilling their promise of simplicity and efficiency. With what we are launching today, Vestmark is fulfilling that promise. We are honored to collaborate with iCapital, BlackRock, and Dynasty to bring this long-awaited and truly innovative solution to fruition. We are excited for how this offering will revolutionize the advisor experience.”Eve Cout, Head of Solutions for BlackRock’s U.S. Wealth Business, commented, “This collaboration with Vestmark, iCapital, and Dynasty allows us to continue expanding choice to RIAs, providing them with the ability to access private markets, SMAs, as well as public markets in a single account. Our dedication to innovating how we deliver custom model solutions empowers advisors to better serve their clients—and it’s driving the rapid growth of our models business.”Marc Hineman, Chief Operating Officer of Dynasty, added, “Dynasty is proud to build upon our existing partnerships with Vestmark, BlackRock, and iCapital to deliver innovative solutions to our growing advisor network. This enhanced capability was developed in response to demand from our network and is an extension of our existing Model Select program, which has already seen impressive adoption. The ability to add subscription-based private investments enables advisors to better serve larger relationships with more sophisticated portfolios and equips them with the technology and execution capability to manage those relationships at scale.”Vestmark has provided portfolio management solutions and outsourced services for financial institutions and their advisors for over 20 years. The company supports more than $1.7 trillion in assets and 4.5 million accounts.iCapital is a global firm focused on non-traditional investment products, offering the iCapital Marketplace, Enterprise Solutions, and Technology and Data Services. As of June 30, 2025, iCapital has $945 billion of assets serviced globally on its platform, including $257 billion in alternative platform assets. The platform serves over 3,000 wealth management firms and 114,000 active financial professionals across 16 offices worldwide.BlackRock is a global asset manager that provides financial technology and investment solutions, aiming to help individuals achieve financial well-being.Dynasty Financial Partners offers technology-enabled wealth management solutions and business services, primarily serving high net worth (HNW) and ultra-high net worth (UHNW) clients. The firm provides an open-architecture platform with software, business services, and investment management capabilities.