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

Vestmark
Vestmark, which provides wealth management software and services, has unveiled what it calls VAST, an outsourced portfolio management service focused on personalization at scale. The offering is a direct indexing service, the firm said.

VAST allows advisors to tailor portfolios to each client's investment preferences and tax circumstances. It offers active tax overlay across the entire portfolio by including indices, separately managed account managers, exchange-traded funds and other securities in a single tax managed offering. 

VAST also includes a tax transition proposal component, allowing for the tax-efficient transition of money in motion, regardless of whether assets are moving across firms, advisors or from a legacy offering to a tax managed offering at the same firm, Vestmark said.

The service offers “active tax overlay” across the portfolio with an integrated tax transition feature.

The term “direct indexing” relates to an investment strategy that involves purchasing the components of an index directly, rather than through a mutual fund or exchange-traded fund.