MyVest is the proud winner of the 7th Annual FinTech Breakthrough Awards for Best Wealth Management Product. We are recognized for our tax management capabilities and continued focus on pursuing tax optimization in portfolio management and rebalancing.

In MyVest’s Strategic Portfolio System (SPS), advisors now have more fine-tuned control over the core tax management settings – tax-loss harvesting, asset location, intelligent gain deferral, tax lot selection, tax budgeting – embedded within our platform’s daily portfolio monitoring, rebalancing and trading process. Specific enhancements included: 

  • Enhanced annual tax budget settings to give clients predictability of their tax liability
  • Expanded tax optimization capabilities and workflow to identify the most meaningful opportunities and trade intraday at scale
  • New tax savings reporting to help advisors better demonstrate their value in client conversations
  • Expanded tax-loss harvest capabilities with more granular options to manage complex use cases
  • New settings to enable tax-loss harvesting to be managed manually or automated 
  • New methods for using substitute securities to manage exposures during wash-sale periods and for managing out securities with embedded gains 
  • Increased precision in asset location from a new tax impact score that measures the tax burden of every security and recommends the best account based on it’s tax profile 
  • A new asset relocation feature to relocate securities over time based on asset location rules 
  • Increased efficiency from new tax management opportunity alerts 
  • New annual tax budget settings to give clients predictability of their tax liability 

A long-time industry advocate for pursuing tax alpha in portfolio management and rebalancing, MyVest set out to expand advisor and portfolio manager use of this systematic approach, and demonstrate how capturing tax alpha can lead to: 

  • Better portfolio outcomes: By taking advantage of all tax management opportunities to maximize tax alpha, better portfolio performance is delivered for the investor. 
  • Better client conversations: By making tax management best practices more accessible and systematic, advisors will be able to demonstrate this practice as a unique, tangible value to their clients, leading to more valuable conversations with their clients. 

Read more about MyVest’s approach to tax management. 

About the FinTech Breakthrough Awards

The 7th annual FinTech Breakthrough Awards program recognizes the breakthrough companies and products in the global financial services and technology industry today.