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Direct indexing asset provider Veriti Management has launched a new user interface it is calling Console. It is meant to streamline and speed up the creation of customized equity portfolios on the Veriti platform.
The new interface allows for faster synchronization of an advisor’s client information, including background information like account size, tax rates and risk profiles with Veriti’s platform and database and helps decrease the amount of time needed to open and fund an account.
The platform can then feed background and educational materials, as well as investment scenarios based on factors that include ESG and values-based investing.
Advisors had already expressed interest because of the ease with which the platform assisted them with creating tax efficiency and its ability to help in customizing client portfolios according to clients’ values, factor tilts and other characteristics.
Console provides real time performance monitoring and is meant to help advisors in creating more ESG-centric portfolios and more easily remove specific sectors or countries, all with constant monitoring for potential portfolio trades or recommended rebalancing actions.
Boston-based Veriti had grown to “nearly $1 billion in assets under management” by August 2021 (half of it from institutional clients and the other half from advisors), when plans for the new interface and an advisor portal were initially discussed.
Veriti was co-founded by Jim Dilworth and David Beatty, both graduates of the Kellogg School of Management at Northwestern University. Beatty has a history of building RIAs, including Daintree Advisors, where he’s currently CEO. The two also co-founded Entwood Holdings, a private equity firm that invests in wealth management firms, including breakaway platform tru Independence. Entwood also owns 100% of Veriti.
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