Enhancements to SPS’s powerful portfolio-optimization engine give advisors more granular control over substitutions, tax budgeting and cash management

San Francisco, September 22, 2021 – MyVest, a leading provider of enterprise wealth management technology, today announced a series of upgrades to its flagship Strategic Portfolio System™(SPS) platform. This latest release adds powerful automation that makes it possible to deliver greater personalization to client portfolios, with increasing precision, and at scale. 

Specifically, MyVest has introduced functional enhancements to SPS in the following areas:

Intelligent Security-level Substitution: The platform now features multi-scenario security-level substitution at the model level, enhancing existing substitution functionality. SPS now automates the substitution process by defining model-level replacements under different circumstances, such as:

  • Preserving embedded gains in the event of a transition
  • Managing exposures through the wash sale period of a tax-loss harvest
  • Optimizing security placement based on taxable or tax-exempt account type 

This intelligent automation accommodates unique client situations reducing the need for advisors to monitor and adjust each portfolio manually. 

Tax Budget Management: SPS further automates the advisor’s portfolio management experience by introducing a tax budget constraint in the rebalancing and optimization process. When this new constraint impacts a rebalance, the system will automatically adjust to only propose trades that adhere to the investor’s tax budget criteria and trade order priorities. This functionality dramatically reduces the time an advisor needs to spend manually reviewing portfolios for potentially large gains.  

Improved Cash Management for Complex Strategies: SPS already enabled advisors to manage cash effectively in complex investment strategies. Now, advisors can manage many more nuanced use cases. For example, advisors can selectively remove cash targets from models, and normalize the remaining model positions, enabling them to better control the client’s cash exposure and avoid excessive cash accumulation. 

“MyVest’s SPS continues to add automation of complex tasks that frees up time for our advisors and portfolio managers, and allows them to better personalize portfolios to the unique circumstances of each client,” said Jason Creel, Managing Director, Individual Investment Solutions at TIAA. “Our team has collaborated extensively with MyVest on the enhancements in this release. We are excited to deploy them.”

“This latest SPS release reflects our focus on granular personalization, providing state-of-the-art tools for advisors to create targeted solutions for their clients,” said Anton Honikman, MyVest CEO. “We help secure the financial futures of investors by automating highly sophisticated portfolio management so that our customers can deliver highly personalized and differentiated solutions at scale.”

About MyVest

MyVest builds enterprise wealth management technology for the digital age. Driven by a vision for client-centric advice, MyVest empowers firms to deliver personalized portfolios at scale. A subsidiary of TIAA since 2016, MyVest is headquartered in San Francisco with offices in Austin and Philadelphia.