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Portfolio > Asset Managers

LPL Launches Direct Indexing in Model Wealth Portfolios

By Dinah Wisenberg Brin

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LPL Financial has introduced direct indexing within its Model Wealth Portfolios unified managed account program, which the firm said can help make trading investment strategies more tax efficient while personalizing outcomes for clients.

The strategy is available through new custom indexed separately managed account products in the MWP program, according to the firm, which announced the new strategy Saturday at its Focus 2023 event for financial professionals.

The custom index SMAs, designed by LPL Research using MSCI Inc. indexes, will have $100,000 minimums and include large-cap, small- and mid-cap and international equity options.

“Financial advisors are always looking to help improve client outcomes and deliver personalized investment solutions,” Rob Pettman, executive vice president, Wealth Management Solutions at LPL Financial, said in a statement. “Investors want the ability to customize their investment strategy in order to achieve a range of goals, including reducing overall tax burden and/or avoiding a particular sector or security.”

Remy Briand, chief product officer and head of index at MSCI, said the company was “delighted to collaborate with LPL Financial as they leverage customized versions of the MSCI USA and EAFE ADR indexes as the foundation to deliver investment solutions that meet the growing needs of financial advisors and their clients.”

LPL’s direct indexing strategy will be available beginning this month, providing advisors with greater customization and control, including the option to tailor automatically recurring tax harvesting strategies unique to each client portfolio, according to the firm.

Dinah Wisenberg Brin

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