Enhancements enable advisors to more efficiently deliver transition plans and personalized proposals for new and existing clients
MyVest, a leading provider of enterprise wealth management technology, has expanded and integrated the proposal and transition capabilities of its Strategic Portfolio System™ (SPS). By combining proposal generation with tax-aware transition planning, the new workflow enables firms and advisors to grow assets, consolidate held-away accounts and deliver personalized proposals that demonstrate unique value to clients.
According to research from Cerulli Associates, only 48% of wealth management platforms offer automated tax-efficient transition tools, with 24% still performing transitions manually. MyVest’s SPS automated transition management transforms this time-intensive process into a consistent, scalable capability that firms can deploy across their entire advisor force.
With the new enhancements, each transition plan and proposal is encoded in an Investment Policy Statement (IPS) within SPS to guide automated plan execution and ongoing portfolio management. This enables tax-efficient transitions over time, adaptations to market changes, proactive tax management, allowing firms to track and manage groups of portfolios in transition daily.
With transition planning embedded into the proposal workflow, advisors have an efficient process to capture client preferences and automatically generate a smart transition plan. Firms are better positioned to onboard new advisors and their books of business, increase wallet share by capturing held-away assets, and migrate accounts to new strategies.
“Transitioning a client’s legacy holdings to a new strategy is one of the biggest needs we hear in the industry, and a successful transition requires technology to execute it consistently,” said Justin Kikuchi, Senior Director of Product at MyVest. “Advisors can now approach transitions with greater confidence, supported by a sophisticated tax-optimized portfolio management system. MyVest’s comprehensive tax management and householding capabilities let advisors create complex transition plans, and our system handles the rest by automating the implementation and executing the plan systematically over time.”
Through these enhancements, firms experience faster onboarding, consistent and trackable transition management firm-wide, and better portfolio outcomes. Advisors can now automate tax-aware transitions, personalize plans more easily, and operate with greater efficiency. At the enterprise level, transitions are supported across UMA, Rep-as-PM, and bank trust programs, with the flexibility for advisors to manage them directly or delegate to a central team.
