Tax Efficient Investing: RiverFront & 55ip
RiverFront Investment Group & 55ip Partner to Offer Tax Efficient Investing for ETF Solutions
Offering Ease & Efficiency to Advisors Looking for Tax Management Capabilities Leveraging 55ip’s Intelligent Automation.
RICHMOND, VA, AND BOSTON, MA, DECEMBER 16, 2020 –
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.
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.”
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.