O’Shaughnessy Asset Management said Tuesday that its Canvas custom indexing platform surpassed $1 billion in assets under management in its first full year.
Advisors now manage over 580 client accounts on Canvas. More than 70% of accounts are customized by advisors to serve clients’ individual preferences, and roughly 16% of those accounts have an ESG component, according to the company.
Canvas “reduces the operational and system overload for RIAs, which leads to greater scale for firms and their advisors,” explained CEO Patrick O’Shaughnessy, in a statement. “Considering the clear benefits, we believe that by 2025 a majority of all advisors in the U.S. will use web-based software to create and manage Custom Indexes for clients.”
The web-based Canvas platform was launched in late 2019. The quantitative asset management firm said it worked closely with nine RIA clients to “develop and hone” the platform.