MyVest is the proud winner of two 2024 WealthManagement.com Industry Awards in the Portfolio Management, Accounting and Performance Reporting category for our Tax-aware Portfolio Transitions and in the Retirement Income Technology category for our partnership with Income Discovery for Tax-optimized Income in Retirement.
Ninety-two awards were handed out, representing 84 companies, among 287 finalists. In all, Wealthies judges—an independent panel of industry leaders—received more than 1,000 entries over 400 companies. Wealthmanagement.com noted that “Several standout companies were recognized in multiple categories, including MyVest.”
Tax-aware portfolio transitions for the enterprise
MyVest enhanced its Strategic Portfolio System™ (SPS) to enable advisors to manage portfolio transitions with a major automation and integration upgrade to the upfront planning and ongoing management of tax-smart portfolio transitions.
These enhancements addressed common challenges associated with transitioning legacy portfolios — embedded gains, concentrated positions, strategy changes — reducing a barrier to onboarding new clients and enabling firms’ organic growth.
Our portfolio management platform can now auto-generate initial transition plans that are informed by defaults and client personalizations, accelerating time-to-execution of each plan. In addition, ongoing tax-aware transition management is automated within SPS’s portfolio management system.
Enterprise-level capabilities support transitions across a firm’s different managed account programs, and give firms the option for transitions to be advisor-managed or delegated to a central team for management in bulk.
MyVest and Income Discovery partnership for tax-optimized retirement income
MyVest’s Strategic Portfolio System (SPS) and Income Discovery’s Paycheck have integrated to build a better bridge between retirement income planning and its ongoing implementation that will scale the delivery of better retirement outcomes.
The seamless integration combines Paycheck’s comprehensive analysis of household-level income sources to determine the optimal withdrawal amounts with SPS’s portfolio management system for executing tax-optimized withdrawals. This ensures that cash is raised in the most tax-optimized manner while managing portfolio targets. A dynamic data connection facilitates ongoing monitoring and management of retirement income plans and sources, ensuring they remain on track and adaptable to changing circumstances.
About the WealthManagement.com Awards
Now in its tenth year, the “Wealthies” is the only awards program of its kind to celebrate the companies, individuals and organizations that demonstrate outstanding achievement in support of financial advisor success. Led by WealthManagement.com’s David Armstrong, a panel of independent judges made up of top names in the industry will determine finalists and winners of the awards, which each year recognize the firms and individuals who are bringing new innovations to market that make a real difference to the daily activities of financial advisors.
