America's Best Direct Indexing Buyers Guide 2024 - 15

2024 DIRECT INDEXING BUYERS GUIDE
Parametric launches its first custom
portfolio designed around a clientchosen
benchmark. It was the seed of
what would eventually become Its
Custom Core® SMA strategy
History of Direct Indexing
1992
History of Direct Indexing
2013
Wealthfront adds direct indexing for retail investors with at least $500,000 on the platform
Optimal Asset Management announces direct indexing services through Factor AllocatorTM platform
2019
Orion embeds its direct indexing capabilities, ASTRO,
directly into its trading and rebalancing platform, Eclipse
Launch of Canvas from O'Shaughnessy Asset Management
Goldman Sachs announces acquisition of Folio
OpenInvest closes $10.5 million SeriesA1 strategic financing round
BlackRock announces it will acquire Aperio
Morgan Stanley announces its intention to acquire Eaton Vance, which owns Parametric
2020
2021
Just Invest launches PGIM Quant Select in partnership with
PGIM's multifactor quantitative equity specialist, QMA
Ethic raises a $29 million Series B round of funding
Charles Schwab acquires Motif's technology and intellectual property
Just Invest surpasses $600 million in AUM
JPMorgan Chase announces its intention to acquire 55ip
Vise raises $45 million
Canvas® surpasses $1 billion in assets under management after its first year of operation
SEI releases Systematic Core Strategies
© CELENT
1
6/29/2021
Vanguard acquires direct indexing provider Just Invest
7/13/2021
9/30/2021
PGIM acquires direct indexing firm Green Harvest
10/19/2021
12/3/2021
RiverFront and Baird acquire minority ownership on GAMMA Investing
1/12/2022
4/1/2022
Pathstone buys $1.9bn direct indexing shop
AssetMark completes acquisition of Adhesion Wealth
This timeline is illustrative and does not reflect the entry or
activity of every direct indexing provider.
Courtesy of Celent, 2023
Courtesy of Celent, 2024
15
5/25/2022
7/13/2022
12/15/2022
2/6/2023
Hightower takes stake in $2.7bn RIA Altium Wealth Management
BNY Mellon's Pershing acquires direct indexing provider Optimal Asset Management
Franklin Templeton acquires OSAM and custom direct indexing platform Canvas
J.P. Morgan agrees to acquire OpenInvest
First Trust buys direct indexing platform Veriti
FNZ acquires wealthtech start-up YieldX
America's Best Direct Indexing Buyers Guide 2024

Table of Contents for the Digital Edition of America's Best Direct Indexing Buyers Guide 2024
