Product and Service Launches – 11/27/24

Strive Makes Direct Indexing Available on Fidelity and Schwab Platforms

Strive Asset Management LLC announced that its Direct Indexing, powered by Vestmark VAST, is available on both the Fidelity Investments and Charles Schwab platforms.

Strive’s Direct Indexing allows investors to track an index’s performance through ownership in individual stocks, instead of through an exchange-traded or mutual fund, while providing enhanced customization and ownership control. The strategy can also deliver potential tax benefits, including daily scanning for tax loss harvesting opportunities and the option for in-kind transfers from existing equity portfolios.

Strive’s Direct Indexing includes full proxy voting coverage and corporate engagement from the firm’s in-house corporate governance team without regard to environmental, social and governance or diversity, equity and inclusion constraints.

“97% of U.S. Large Cap companies had drawdowns of 10% or more at some point during the 2023 calendar year,” Matt Cole, the CEO of Strive, said in a statement. “In 2022, the number was 100%. To be able to harvest those losses on a daily basis while also receiving the pro-shareholder governance that Strive provides is something investors cannot get anywhere else.”

Alera Group Deploys TIFIN @Work’s AI-Powered Platform

Alera Group Inc., a national insurance and financial services firm, announced the deployment of the TIFIN @Work AI-powered workplace benefits and wealth management platform. Alera Group’s retirement plan services practice has integrated TIFIN @Work with its FinWell Connect financial wellness program.

“Other platforms fill gaps; TIFIN @Work drives true engagement and business growth,” Christian Mango, Alera’s executive vice president and national practice leader of retirement plan services, said in a statement. “We’re excited to offer a modern solution that benefits both employees and advisers.”

Through TIFIN @Work’s AI-driven platform, Alera Group’s retirement plan participants will receive personalized guidance, connecting them with financial experts.

“Partnering with Alera Group marks a pivotal step in uniting workplace benefits with wealth management,” Marc McDonough, CEO of TIFIN @Work, said in a statement. “TIFIN @Work is the bridge from retirement to financial confidence, enhancing employees’ financial journeys and expanding advisors’ reach and impact.”

Vanguard Launches 2 ETFs

Vanguard announced plans to launch in the first quarter of 2025 two ETFs intended to help investors manage their short-term liquidity needs. Vanguard Ultra-Short Treasury ETF and Vanguard 0-3 Month Treasury Bill ETF are index ETFs that will offer low-cost Treasury exposure for individual investors and financial advisers.

Both new ETFs can serve as part of an investor’s liquidity tool kit, as both will offer exposure to U.S. Treasury securities, have short durations and low volatility, and are expected to have tight bid-ask spreads.

The ultra-short ETF will hold Treasurys with maturities of fewer than 12 months, while the 0-3 Month Treasury bill ETF will focus on Treasury bills maturing in three months or fewer. “VGUS” and “VBIL” are each expected to launch with an expense ratio of 0.07%, which will position each ETF as the low-cost leader in its respective category.

“VGUS and VBIL can be a solution for those who rely on ultra-short bond funds and ETFs to manage their liquidity needs,” Daniel Reyes, global head of Vanguard’s portfolio review department, said in a statement. “These new ultra-short Treasury ETFs fill the gap between Vanguard’s money market funds and our existing ultra-short-term bond offerings, enabling investors to build portfolios with greater precision using Vanguard ETFs.”