BERWYN, PA — Envestnet, in partnership with State Street Global Advisors, has introduced Direct Indexing portfolios on the Envestnet Unified Managed Account (UMA) platform, announced during the Elevate 2025 conference in Las Vegas. This venture combines the customization capabilities of direct indexing with the expertise of one of the world’s largest asset managers to deliver personalized and tax-efficient investment solutions.
The collaboration offers clients over 100 customization options and optional tax overlay services within a seamless UMA structure. Leveraging State Street Global Advisors’ reputation as the pioneer of ETFs and a manager of $4.72 trillion in assets, the solution aims to provide institutional-level investment tools to a wider audience. The new strategies include the SSGA Global Equity Direct Index and SSGA US Large Cap Quality Direct Index portfolios, accessible with a $100,000 account minimum.
“Together with State Street Global Advisors, we’re redefining access to customized, tax-smart portfolios,” said Dana D’Auria, Group President, Envestnet Solutions. “Through direct indexing on our UMA platform, advisors can deliver truly bespoke solutions aligned to each client’s goals, values, and tax needs—without sacrificing scale or efficiency.”
Direct indexing allows investors to own the individual securities of an index, rather than pooled instruments like ETFs, enabling enhanced tax strategies and greater portfolio tailoring. Historically a high-net-worth solution, advancements in technology have broadened accessibility for all investors.
“Historically, direct indexing has been costly and cumbersome to implement, limiting most investors’ ability to take advantage of its potential benefits,” stated Allison Bonds Mazza, Senior Managing Director at State Street Global Advisors. “Together with Envestnet, we aim to make it easier for investors to efficiently and cost-effectively personalize their portfolios via direct indexing.”
This initiative, supported by Envestnet’s QRG Capital Management, signifies the next step in personalized portfolio innovation, offering advisors the tools to deliver tailored solutions that balance client-specific goals with advanced tax efficiency.
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