Institutional-quality PMA suite features active and direct indexing solutions with customizable overlay
The Baird SMA Network has added Russell Investments’ full suite of Personalized Managed Accounts (PMAs) to its advisory platform. This partnership will give Baird’s private wealth management advisors and their clients access to Russell Investments’ outcome-oriented PMAs, which offer a combination of customizable active and direct indexed investment solutions.
“We’re very happy to provide our advisory community with Russell Investments’ PMA solutions, as our clients are increasingly looking for solutions that give them the ability to customize their portfolios”
“We’re very happy to provide our advisory community with Russell Investments’ PMA solutions, as our clients are increasingly looking for solutions that give them the ability to customize their portfolios,” said Jeannie Oster, Senior Vice President, Advisory Solutions Manager at Baird. “Our two firms share a strategic vision around the growing importance of personalization, and particularly tax-smart investing, which is a key component of many wealth management strategies.”
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Russell Investments’ PMA suite is available on the Baird SMA Network, featuring the following six personalized solutions: three actively managed SMAs, two direct index SMAs and one SMA strategy that combines both active and direct indexing in a single solution.
“Our institutional-caliber PMA suite supports Baird’s key initiatives to provide tailored solutions that fit each client’s needs, while focusing on tax mitigation and management in addition to ESG and security exclusions,” said Kevin Knowles, Senior Director, Personalized Solutions at Russell Investments. “Whether transitioning an existing portfolio to a new investment strategy or managing for ongoing realized gains/losses, our solutions are implemented with a tax bridge and budget that suits each client’s desired outcomes.”
Russell Investments’ PMA portfolio-customization options include:
- ESG exclusionary screens,
- security and industry restrictions,
- faith-based preferences,
- responsible-investing custom overlays,
- and the ability to implement a strategic charitable-giving plan.
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The firm’s PMA suite also provides ongoing tax-management services that include systematic tax-loss harvesting, gain deferral and minimization, tax-aware and risk-controlled turnover, tax-smart withdrawals, charitable-giving services, as well as the ability to specify tax or capital gains budgets. In addition, Russell Investments’ transition management service can develop an optimal transition plan customized to each client’s tax preferences and circumstances.
Russell Investments’ PMA suite was successfully launched and tested on the Baird SMA Network in April 2022, and Baird’s rollout to its private wealth management advisors is underway in May.
Knowles added that Baird is an early broker-dealer adopter of Russell Investments’ PMA suite, which is already available through Schwab Marketplace, Fidelity SAN and several broker-dealers utilizing the Envestnet platform.
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