Tailored Portfolio Solutions

Powering Portfolio Customization at Scale
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Charles River Tailored Portfolio Solutions

The demand for customized portfolios in wealth management is growing. Investors want their portfolios to reflect their beliefs and personal convictions and take their specific tax and risk profile into consideration. For wealth managers and advisors, offering customized portfolios is becoming an increasingly important differentiator.

Charles River’s Tailored Portfolio Solutions enables wealth and asset management firms to offer high-value portfolio customization at scale. Firms can manage the construction and trading of in-house models, third party separately managed account (SMA) strategies, or operate direct index programs tailored to the requirements of each individual investor.

Powering Portfolio Customization at Scale

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  • Deliver highly customized portfolios for the mass affluent market
  • Mitigate tax burdens, reflect ESG convictions, replicate an index, and integrate household accounts
  • Provides a value-added offering with improved outcomes for clients
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  • Scalable technology allows portfolio customization for large numbers of accounts
  • Built as part of Charles River’s Wealth Management Solution, with the configurable and scalable platform to support business growth
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  • Simplifies the operational complexities that were once a barrier to customization at scale
  • Optimization technology is the engine that powers Tailored Portfolio Solutions

Portfolio Optimization

Optimization technology acts as the engine for Tailored Portfolio Solutions (TPS), allowing clients to build portfolios according to stated guidelines and constraints. Employing portfolio optimization provides wealth managers with fit-for-purpose analytics across assets, markets, and geographies. The process begins with the capture of data containing customization instructions and specific constraints. Configuration takes place through batch processing and benchmark integration, and finally, the results are implemented into the portfolios.

Portfolio Optimization Workflow

Tailored Portfolio Solutions Capabilities

Charles River’s Tailored Portfolio Solutions enables wealth managers to efficiently deliver highly customized portfolios at scale. Wealth firms can apply client-directed or manager-initiated constraints to a performance benchmark to replicate that index’s performance and risk attributes within the client’s portfolio. TPS enables managers to tailor portfolios through:

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Tax Optimization
Managers can minimize the tax burden on portfolios by coordinating tax events across accounts, incorporating held away assets, and factoring in clients’ tax rates and objectives. The solution also helps improve after-tax returns by allowing managers to make optimal tax/risk trade-offs in rebalancing.

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ESG Customization
TPS allows for an investor’s environmental- and social-based values to be reflected in the portfolios by capturing and implementing their preferences while still adhering to the benchmark. Negative screening can help ensure compliance with ESG criteria.

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Direct Index
Enables managers to replicate the risk/return profile of an index while adhering to operational constraints such as positions and trades. TPS also supports custom benchmarks, concentrated positions, and ongoing management capabilities that allow for the implementation complex investment policy statements.

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Household IPS Implementation
TPS automates integrated portfolio management and decision making across a household of accounts, avoiding wash sales and managing tax and risk outcomes.

The Evolution of Direct Indexing

In this MMI Advisory Insights interview, Craig Pfeiffer, CEO of MMI, and Randy Bullard, Global Head of Wealth for Charles River Development, discuss the industry trends and innovations in technology that have enabled the recent surge in interest around direct indexing.

The material presented is for informational purposes only. The views expressed in this material are the views of the author, and are subject to change based on market and other conditions and factors, moreover, they do not necessarily represent the official views of Charles River Development and/or State Street Corporation and its affiliates.