MyVest’s latest release of its Strategic Portfolio System™ (SPS) extends its tax-aware portfolio transition capabilities, helping wealth management firms and their advisors scale the delivery of portfolio transitions to more clients, without compromising quality.

Scaling Transitions at the Enterprise Level

These enhancements address common challenges associated with transitioning legacy portfolios across the enterprise, better positioning wealth management firms as they acquire advisors and their books-of-business, as they increase share of wallet of existing clients by consolidating their held-away accounts, and as they migrate accounts to new strategies.

Enterprise-level capabilities include supporting transitions across any of a firm’s different managed account programs (e.g. SMA, UMA, Rep-as-PM, bank trust), smart transition plan defaults, and giving firms the option for transitions to be advisor-managed or delegated to a home office team for management in bulk.  

Smart Transition Plan Generation  

Transition plans can be auto-generated, informed by configurable defaults, firm rules and client personalizations, providing advisors an immediate starting point to review and subsequently refine with clients. These smart starting points materially accelerate time-to-execution of each plan.  

Once advisors finalize each transition plan, their firm can give them the option to selectively delegate ongoing management of the transition to a central team, freeing up advisor capacity for client engagement and business development.

Automating Ongoing Tax-aware Transition Management 

Ongoing tax-aware transition management is automated within SPS’s portfolio management system, which enables users to: 

  • Transition legacy holdings in the most tax-efficient way over time, responding as circumstances change 
  • Opportunistically expand a client’s tax budget capacity through proactive tax-loss harvesting
  • Easily aggregate, track and manage groups of ‘portfolios in transition’ on a daily basis  

“Given their associated complexities, tax-aware transitions have traditionally been hand crafted. This presents scale challenges, particularly when viewed at the firm level,” said Anton Honikman, CEO of MyVest. “MyVest has learned from our customers’ experience with transitions, informing our design of features which address the common bottlenecks. We’re excited to help make tax-aware transitions rewarding both for investors and for the wealth management firms serving them.” 

Resources to Learn More About Portfolio Transitions 

MyVest won a Bank Insurance & Securities Association (BISA) Technology Innovation Award for our tax-aware portfolio transition capabilities. 

MyVest’s transition planning enhancements were covered in Financial Planning. 

Read more about how MyVest helps firms and advisors automate and deliver portfolio transitions at scale more efficiently.