Direct indexing asset provider Verity Management has launched a new user interface it is calling Console. It aims to streamline and accelerate the creation of customized equity portfolios on the Verity platform.
The new interface allows faster synchronization of the advisor’s client information, including background information such as account size, tax rates and risk profiles, with Verity’s platform and database and helps reduce the amount of time required to open and fund an account does.
The platform can then feed into investment scenarios based on factors that include ESG and value-based investing, along with background and educational material.
Advisors had already expressed interest because of the ease with which the platform helped them build tax efficiency and the ability to help them customize client portfolios according to clients’ values, factor orientations and other attributes.
The console provides real-time performance monitoring and is meant to help advisors build more ESG-focused portfolios and easily remove specific sectors or countries, with continuous monitoring for all possible portfolio trades or recommended rebalancing actions.
Boston-based Verity had “nearly $1 billion in assets under management” (half of it from institutional clients and the other half from advisors) as of August 2021, when plans for the new interface and an advisory portal were initially discussed. .
Verity was founded by Jim Dilworth and David Beatty, both graduates of the Kellogg School of Management at Northwestern University. BT has a history of building RIAs, including Daintree Advisors, where he is currently CEO. The two also co-founded Antwood Holdings, a private equity firm that invests in wealth management firms, including breakaway platform True Independence. Entwood also holds a 100% stake in Veriti.