Strive’s Direct Indexing Now Available on Fidelity and Schwab
The offering expands Strive’s products to include tax loss harvesting with Strive’s shareholder maximizing approach to Corporate Governance
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COLUMBUS, OHIO (November 26, 2024) — Strive Asset Management (“Strive”) today announced that its Direct Indexing, powered by Vestmark VAST™, is now 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 ETF 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 focuses on the best financial outcome for the client and includes full proxy voting coverage and corporate engagement from our in-house corporate governance team without regard to ESG or DEI constraints.
“97% of U.S. Large Cap companies had drawdowns of 10% or more at some point during the 2023 calendar year,” said Matt Cole, CEO of Strive. “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.”
“Vestmark is thrilled to partner with Strive, a company known for impressive growth and innovation. Our partnership will support Strive’s evolution into Direct Indexing where they can serve a broader array of clients seeking an investment approach focused on shareholder advocacy,” said Karl Roessner, CEO of Vestmark. “Every day, we empower financial advisors to create highly personalized, tax-optimized portfolios at scale, helping to ensure each client’s unique financial goals are met with precision and efficiency. At Vestmark, we are delivering compelling solutions that help to enhance advisor capabilities and client outcomes.”
Vestmark’s financial system simplifies the creation of personalized tax-optimized portfolios for financial advisors at scale, enabling the creation of tailored, tax optimized portfolios aligned to each client’s personal situation. Their tax transition service also helps to ensure the tax-efficient transition of legacy positions from other accounts or firms. Vestmark recently won an award for Outstanding Achievement in Direct Indexing by Technology Providers at the 2024 WealthManagement.com Industry Awards on 9-5-2024.
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About Vestmark
Headquartered in Wakefield, Mass. and founded in 2001, Vestmark is a leading provider of portfolio management solutions and outsourced services for financial institutions and their advisors, enabling them to efficiently manage customized client portfolios through an innovative technology platform. Supporting over $1.5 trillion in assets and 5.5 million accounts, Vestmark is a partner to some of the largest and most respected wealth management firms. For more information about Vestmark’s solutions, call (781) 224-3640 or visit www.vestmark.com.
Media Contact
Elizabeth Shim
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About Strive
Co-founded in 2022 by Vivek Ramaswamy, Strive is a financial services firm with a mission to maximize value for their clients through unapologetic capitalism. The firm has quickly grown to manage $1.7 billion in assets since the launch of its first fund in August 2022, competing directly with the world's largest financial institutions by empowering Americans to invest with a sole focus on shareholder value maximization. Strive recently launched a wealth management business unit to offer true financial freedom, including the tailored integration of Bitcoin into the portfolios of everyday Americans. Learn more at strive.com.