|By Marketwired .||
|December 19, 2013 08:48 AM EST||
WAKEFIELD, MA -- (Marketwired) -- 12/19/13 -- Vestmark, a leading innovator of advisory solutions and wealth management technology, announced Center Coast Capital Advisors, LP's selection of Vestmark Business Process Outsourcing (BPO) service to support and scale its growing master limited partnership (MLP) separately managed accounts (SMA) business.
Center Coast provides MLP SMAs that are comprised of a custom portfolio of publicly-traded securities in the energy midstream infrastructure sector. Vestmark BPO has enhanced this program by automating many of the labor-intensive processes associated with managed account trading and administration, including order management, compliance, account administration, reconciliation, and portfolio composite performance management, all while ensuring they are done accurately and resourcefully.
"Due to the rapid growth in our MLP offerings, we were faced with the challenges of managing robust platforms and accounts. This prompted us to outsource middle- and back-office operations. In this service provider, we required the flexibility to react to our evolving business needs, while gaining access to a top-in-class system. Vestmark BPO service provides us with the ability to automate and eliminate the manual time-consuming processes associated with SMAs and focus on our investment process and generating a high level of risk-adjusted returns for our clients," said Rachel Hollowell of Center Coast.
"Vestmark BPO service will enable Center Coast to focus on its core competencies and increase overall efficiency, all through a flexible and automated platform," said Steve Camp, SVP of BPO. "We look forward to helping Center Coast maximize the value of VestmarkONE and our BPO service to enhance the quality of the investment services it provides MLP investors."
For more about Vestmark BPO services, please click here.
Vestmark provides VestmarkONE, a unified wealth management platform offering comprehensive, real-time technology that enables broker-dealers, investment managers, RIAs, bank trusts, and other financial firms to deliver holistic wealth management and a full range of advisory solutions. Vestmark's experienced team works closely with clients to implement tailored solutions incorporating best practices that help firms gather more assets, increase efficiencies, and minimize operating risks. For more information about Vestmark's solutions, please call (781) 224-3640, email [email protected], or visit www.vestmark.com.
About Center Coast Capital Advisors, LP
Center Coast Capital Advisors, LP is a registered investment advisor that focuses on energy-related master limited partnerships (MLPs). Headquartered in Houston, Texas, Center Coast manages MLP assets with an investment process focused on due diligence from an owner-operator perspective. Center Coast offers alternatives, separately managed accounts, an open-end mutual fund, and a closed-end fund to institutional, individual, and retail clients. As of November 30, 2013, Center Coast manages over $2.8 billion in assets under management. For more about Center Coast Capital Advisors, LP, visit www.centercoastcap.com.