WHITE PAPER

Direct Indexing and the Unfulfilled Promise of Tax Efficient SMAs

Name: Cerulli Associates
Address: 699 Boylston Street, Boston, Massachusetts, 02116, US
Telephone: 617-437-0084
Price range: $

April 5, 2022

For decades, the financial services industry has touted the customization of managed accounts, yet only partially delivered on that claim. Direct indexing may change that.

Key Points

Firms distributing managed accounts have long promoted the ability of these products to be customized for individual client attributes such as taxes. But so far, only half (53%) of managed accounts receive tax treatment.
Owing to new developments in financial services, direct index SMAs offer firms the opportunity to expand the use of tax optimization to create customized portfolios for clients.

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