San Francisco, June 21, 2022 – The best advisors understand the critical value that tax management brings to their clients’ portfolios, but even the most experienced can be challenged to do it systematically, and consistently across their entire book.
MyVest’s latest release of its Strategic Portfolio System™ (SPS) helps advisors meet this challenge by significantly streamlining the workflow and efficiency of managing taxes in portfolios. Key enhancements include:
Enhanced tax-loss harvest alerts & workflow improve efficiency
SPS’ tax-loss harvest opportunity alerts were enhanced with new data & analytics to help advisors identify the most meaningful harvest opportunities. The integration of these alerts with SPS’ overlay portfolio management tool enables advisors and portfolio managers to take advantage of these loss harvest opportunities intra-day and at scale, rather than portfolio-by-portfolio, all in a couple of clicks.
Expanding tax-loss harvest capabilities beyond the basics
Enhancements to tax-loss harvest parameters provide granular options for addressing more complex use cases. These include security-level substitution rules, options for treatment of cash proceeds, and transitioning legacy securities.
“Not all tax-losses are created equal. We added capabilities to help advisors evaluate the relative value of each harvest opportunity, and then we improved the workflow to enable them to act on their selections at scale,” said David Costain, Director of Product Management at MyVest.