Offering Ease & Efficiency to Advisors Looking for Tax Management Capabilities Leveraging 55ip’s Intelligent Automation.
RiverFront Investment Group, a global asset manager and ETF strategist, announced today their partnership with 55ip, a financial technology company. The joint solution is intended to make it easier for advisors to transition clients into diversified RiverFront ETF strategies in a tax-efficient manner, with ongoing rebalancing and tax management provided by 55ip.
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A 2019 RiverFront-sponsored Financial Advisor survey rated tax transition capabilities as the number one most desired solution. “After twelve years of a Bull market, many investors have concentrated portfolios with large unrealized gains. We heard from our advisor partners that they are seeking ways to help clients diversify their portfolios in a tax efficient manner,” said Pete Quinn, RiverFront President & CEO. “Through this partnership, we can enable advisors to transition to RiverFront model portfolios with tax efficiency leveraging 55ip’s advanced ActiveTax Technology® in an advisor-led manner.”
Expected to be available in the first quarter of 2021, the co-branded experience is designed to enable advisors to deliver tax-smart transitions, management, and withdrawals, as well as tax benefit reporting. RiverFront ETF Advantage Model Portfolios will be available for tax-efficient investing to Registered Investment Advisors who custody at participating custodians, including Schwab, TD Ameritrade, Fidelity, and Raymond James. In addition, we plan to make the solution available to additional wealth management channels, including broker-dealers.
“At 55ip, our purpose is to break down barriers to financial progress. For many investors, taxes are getting in the way of transitioning to the right portfolio. Partnering with leading strategists like RiverFront gives advisors the tools they need to overcome that challenge. Advisors using 55ip have driven broader usage of models, with approximately double the assets in taxable accounts in models compared to incumbent platforms,” said Paul Gamble, CEO of 55ip. “In addition, they’re also saving time through intelligent automation and helping to drive better outcomes through tax-smart management, which is becoming increasingly compelling in a volatile market environment.” Learn more here.
ABOUT RIVERFRONT: RiverFront Investment Group is a global asset manager focused on Process over Prediction — a dynamic investment approach driven by a systematic, repeatable methodology. The firm provides flexible, risk-managed solutions for a range of investment objectives and risk tolerances. RiverFront is affiliated with Robert W. Baird & Co. Incorporated (“Baird”), member FINRA/SIPC, from its minority ownership interest in RiverFront. RiverFront is owned primarily by its employees through RiverFront Investment Holding Group, LLC, the holding company for RiverFront. Baird Financial Corporation (BFC) is a minority owner of RiverFront Investment Holding Group, LLC and therefore an indirect owner of RiverFront. BFC is the parent company of Robert W. Baird & Co. Incorporated, a registered broker/dealer and investment adviser. Learn more at riverfrontig.com
ABOUT 55IP: 55ip is a financial technology company whose purpose is to break down barriers to financial progress. Financial advisors use 55ip’s tax-smart investment strategy engine to dramatically improve their efficiency and effectiveness. 55ip’s intuitive experience and intelligent automation elevate portfolio design and delivery, helping advisors save time and drive better outcomes for their clients. At the heart of the experience is 55ip’s ActiveTax Technology®, which includes tax-smart transitions, management, and withdrawals.
55ip is the marketing name used by 55 Institutional Partners, LLC, an investment technology developer, and for investment advisory services provided by 55I, LLC, an SEC-registered investment adviser.
Opinions expressed are current as of the date shown and are subject to change. Past performance is not indicative of future results and diversification does not ensure a profit or protect against loss. All investments carry some level of risk, including loss of principal. An investment cannot be made directly in an index.
Information or data shown or used in this material was received from sources believed to be reliable, but accuracy is not guaranteed.
This report does not provide recipients with information or advice that is sufficient on which to base an investment decision. This report does not take into account the specific investment objectives, financial situation or need of any particular client and may not be suitable for all types of investors. Recipients should consider the contents of this report as a single factor in making an investment decision. Additional fundamental and other analyses would be required to make an investment decision about any individual security identified in this report.
55 Institutional Partners, LLC and its affiliates (“55ip”) is a registered investment adviser that offers access to the third-party strategies provided herein in addition to other services. RiverFront Investment Group, LLC (“RiverFront”) provides investment ideas in the form of model portfolios, to 55ip for use in the software offered herein. 55ip receives fees from RiverFront as consideration for the services 55ip provides its customers in relation to the RiverFront models. The RiverFront Model Portfolios are provided for illustrative and educational purposes only, do not constitute research, personalized investment advice or a fiduciary investment recommendation from RiverFront or 55ip to any client of 55ip, and are intended for use only by 55ip customers, with other information, as a resource to help build a tailored portfolio or as an input in the development of investment advice from a Financial Professional to its own clients and shall not be the sole or primary basis for a Financial Professional. Financial Professionals are responsible for making their own independent fiduciary judgment as to how to specifically use the RiverFront Model Portfolios and/or whether to implement any trades for its designated clients. RiverFront does not have investment discretion over, or place trade orders for, any portfolios or accounts derived from the RiverFront Model Portfolios. RiverFront is responsible for the methodology of the Model Portfolios; it is not responsible for determining the individual appropriateness or suitability of the RiverFront Model Portfolios or any of the securities included therein for any client of 55ip. Information and other marketing materials provided by RiverFront or 55ip concerning the RiverFront Model Portfolios including holdings, performance, and other characteristics – may vary materially from any portfolios or accounts derived from the RiverFront Model Portfolios. The RiverFront Model Portfolios themselves are illustrative, they are not funds and one cannot invest directly in the Model Portfolios. RiverFront and 55ip are not affiliated, RiverFront disclaims responsibility for any content provided by 55ip.
55ip does not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.
RiverFront Investment Group, LLC (“RiverFront”), is a registered investment adviser with the Securities and Exchange Commission. Registration as an investment adviser does not imply any level of skill or expertise. Any discussion of specific securities is provided for informational purposes only and should not be deemed as investment advice or a recommendation to buy or sell any individual security mentioned. RiverFront is affiliated with Robert W. Baird & Co. Incorporated (“Baird”), member FINRA/SIPC, from its minority ownership interest in RiverFront. RiverFront is owned primarily by its employees through RiverFront Investment Holding Group, LLC, the holding company for RiverFront. Baird Financial Corporation (BFC) is a minority owner of RiverFront Investment Holding Group, LLC and therefore an indirect owner of RiverFront. BFC is the parent company of Robert W. Baird & Co. Incorporated, a registered broker/dealer and investment adviser.
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