MyVest is a proud winner of the Bank Insurance & Securities Association (BISA) Technology Innovation Award for tax-aware portfolio transition capabilities to help wealth management firms and their advisors deliver portfolio transitions at scale.

Tax-aware portfolio transitions for the enterprise

MyVest enhanced its Strategic Portfolio System™ (SPS) to enable advisors to do this with a major automation and integration upgrade to the upfront planning and ongoing management of tax-smart portfolio transitions. 

MyVest sweats the details, so advisors no longer need to manually develop each plan from scratch. Initial transition plans are auto-generated, informed by configurable defaults, firm rules and client personalizations, providing advisors an immediate starting point to review and subsequently refine with clients. The final plan is encoded in SPS’s portfolio management system for automated execution and ongoing management.  

An additional benefit of automated and scalable portfolio transitions is that they can be managed by an individual advisor, or the advisor has the option to selectively delegate ongoing management of their clients’ plans to a central team, freeing up advisor capacity for client engagement and business development. 

MyVest’s tax-aware transition capabilities are purpose-built to help advisors successfully address common challenges like evaluating securities with large embedded gains, concentrated positions, or a strategy change. An example is when an advisor’s client is transitioning a legacy portfolio with significant embedded gains, and has identified the maximum capital gains tax they want to realize annually. SPS’s algorithm automatically generates a tax-efficient transition plan that incorporates a combination of tax budgeting, security substitution rules, and defines a systematic approach to take advantage of opportunities when they arise over the transition period. 

About the awards

The BISA Technology Innovation Award is designed to recognize leadership in the advancement of the financial services industry’s products, services and platforms through innovation in technology. This award highlights companies for their commitment to advancements in technology-based solutions for the industry.

MyVest is thrilled to receive recognition in this category and would like to thank BISA. BISA is dedicated to serving those responsible for marketing, sales and distribution of securities, insurance and other financial products/advisory services through the bank channel.

Learn more about tax-aware portfolio transitions.