The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.

Interactive Brokers
Nasdaq-listed Interactive Brokers has launched Custom Indexing for Registered Investment Advisors. This is a new direct indexing solution that enables RIAs to personalize client portfolios.

Custom Indexing allows RIAs to create custom portfolios for their clients that directly hold the underlying securities of an index rather than buying a traditional index fund. Advocates of this approach say it provides several benefits, including the ability to customize portfolios to align with specific investment objectives, as well as include or exclude specific stocks based on ESG preferences and other factors. This approach does not have an expense ratio, unlike traditional ETF investing.

"IBKR's comprehensive suite of advisor services, including no custody fees or minimums, advanced trading platforms, global market access and no in-house advisory team to compete with advisors, make us the ideal custodian for RIAs of all sizes,” Milan Galik, chief executive of Interactive Brokers, said. “Custom Indexing further enhances this package and enables advisors to create tailored portfolios aligned with their client’s specific investment goals."

This news service has interviewed the chairman and founder of Interactive Brokers about how it fits into the wealth management landscape.