BOSTON, MA, AND RICHMOND, VA — Nov. 3, 2021 — Increasing demand from advisors and their clients has spurred 55ip to expand its partnership with Riverfront Investment Group (“RiverFront”). The firms announce today a rollout at Baird of 55ip’s tax-smart transition technology with RiverFront ETF strategies to help advisors ease the burden of moving to advisory programs. The addition of Baird—who has over 1,300 financial advisors—to the firm's stable of clients represents the second major broker-dealer to partner with 55ip.
Riverfront first partnered with 55ip in spring 2021 to offer their ETF Advantage model portfolios on 55ip’s tax-smart investment strategy engine in the RIA channel, recognizing the importance of tax management to helping advisors grow their practice, while seeking to improve investor outcomes. 55ip’s advisor-led experience seeks to mitigate the tax impact for clients when transitioning investment strategies through ongoing, systematic tax-loss harvesting.
"Our mission at 55ip is to become the industry standard tax-smart strategy engine, and this new partnership with Baird is another important step on that journey,” said Paul Gamble, Chief Executive Officer of 55ip. “It’s exciting to see innovative independent broker-dealers such as Baird embracing new technologies that will move the wealth management industry forward.”
“We continue to hear demand from our advisor partners that they are seeking tax-efficient ways to help clients diversify their portfolios, but research is showing that only a minority of advisors are taking advantage of automated tax-loss harvesting,” said RiverFront President & CEO Pete Quinn. “Our goal is to democratize automated, on-going tax management to help our advisors and their clients seek better after-tax outcomes.”
The established partnership between 55ip and RiverFront extends its mission to support advisors and improve efficiency and effectiveness to help investors meet their goals. Baird financial advisors will use 55ip’s tax-smart investment strategy engine to choose from a selection of RiverFront ETF Advantage model portfolios and guide clients through seamless tax-smart transitions. Automated, ongoing tax-loss harvesting is executed all year long, and the 55ip platform allows for that human-capital to be spent serving the client in other areas of their financial plans. In addition, 55ip and RiverFront will provide trading and educational support to Baird’s financial advisors.
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 improve their efficiency and effectiveness. 55ip’s intuitive experience and intelligent automation elevate portfolio design and delivery, helping advisors save time and seek 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. 55ip is a wholly owned subsidiary of J.P. Morgan Asset Management, the asset management business of JPMorgan Chase & Co. For more information on 55ip, please visit www.55-ip.com.
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.