Demand for Tax Management Continues to Drive Adoption
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.
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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.
To review other risks and more information about RiverFront, please visit the website at www.riverfrontig.com and the Form ADV, Part 2A. Copyright ©2021 RiverFront Investment Group. All Rights Reserved. ID 1891067