Strive Asset Management has launched its Direct Indexing product, enabled by Vestmark VAST, on the Fidelity Investments and Charles Schwab platforms.
This move marks a significant expansion of Strive’s offerings, integrating tax loss harvesting capabilities with its shareholder-centric approach to corporate governance.
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Direct Indexing enables investors to track the performance of an index through ownership of individual stocks rather than traditional ETFs or mutual funds.
The approach allows for greater customisation and direct control, along with potential tax advantages. Features include daily tax loss harvesting, the option for in-kind transfers from existing portfolios, and seamless integration with Strive’s shareholder-focused governance strategy.
Strive differentiates itself by excluding environmental, social, and governance (ESG) or diversity, equity, and inclusion (DEI) constraints from its investment decisions, emphasising instead financial outcomes and shareholder advocacy.
Moreover, Vestmark’s technology underpins the offering, providing financial advisers with tools to create tailored portfolios aligned with clients’ personal situations.
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By GlobalDataThe platform also includes tax-efficient transition services for legacy positions.
Strive’s launch on two of the industry’s largest platforms is expected to broaden its reach, offering more investors access to adapted, tax-efficient strategies coupled with a commitment to maximising shareholder value.
Matt Cole, CEO of Strive stated: “97% of U.S. Large Cap companies had drawdowns of 10% or more at some point during the 2023 calendar year. In 2022, the number was 100%. To be able to harvest those losses on a daily basis while also receiving the pro-shareholder governance that Strive provides is something investors cannot get anywhere else.”
Karl Roessner, CEO of Vestmark added: “Vestmark is thrilled to partner with Strive. Our partnership will support Strive’s evolution into Direct Indexing where they can serve a broader array of clients seeking an investment approach focused on shareholder advocacy. Every day, we empower financial advisers to create highly personalised, tax-optimised portfolios at scale, helping to ensure each client’s unique financial goals are met with precision and efficiency. At Vestmark, we deliver compelling solutions that help to enhance advisor capabilities and client outcomes.”
