ENVESTNET AND STATE STREET GLOBAL ADVISORS EXPAND ACCESS TO PERSONALIZED PORTFOLIOS THROUGH DIRECT INDEXING ON UMA PLATFORM

Offering Provides Investors with Improved Tax Management, Including Tax-Loss Harvesting, Alongside the Flexibility to Address Investment Preferences and Personal Values

Strategies are offered in partnership with Envestnet's QRG Capital Management, a Pioneer in Delivering Direct Indexing Through the Unified Managed Account Structure

BERWYN, Pa., April 9, 2025 /PRNewswire/ -- Envestnet, in collaboration with State Street Global Advisors, announced at its Elevate 2025 conference in Las Vegas today that it is expanding access to personalized investing with the launch of Direct Indexing portfolios available on the Envestnet Unified Managed Account (UMA) platform. This offering combines the powerful legacy of index investing from one of the world's leading asset managers with Envestnet's sophisticated technology to deliver customized, tax-aware portfolio solutions at scale.

Direct indexing at Envestnet with State Street Global Advisors offers investors the ability to create truly personalized index portfolios, featuring over 100 points of customization and optional tax overlay services—all within a seamless UMA structure. Clients can now benefit from the institutional experience of State Street Global Advisors, creator of the world's first ETFs1 and the fourth largest asset manager globally2 with $4.72 trillion in assets under management3.

"Together with State Street Global Advisors, we're redefining access to customized, tax-smart portfolios," said Dana D'Auria, Group President, Envestnet Solutions at Envestnet. "Through direct indexing on our UMA platform, advisors can deliver truly bespoke solutions aligned to each client's goals, values, and tax needs—without sacrificing scale or efficiency."

The new offering includes a suite of actively and passively managed direct indexing strategies with $100,000 account minimums:

• SSGA Global Equity Direct Index Portfolio
• SSGA US Large Cap Quality Direct Index Portfolio

"Historically, direct indexing has been costly and cumbersome to implement, limiting most investors' ability to take advantage of its potential benefits. However, the combination of the desire to personalize portfolios at scale and technological innovation has made it possible to bring direct indexing to investors of all sizes," said Allison Bonds Mazza, Senior Managing Director, Head of Intermediary at State Street Global Advisors. "Together with Envestnet, we aim to make it easier for investors to efficiently and cost-effectively personalize their portfolios via direct indexing. We are proud of what our partnership with Envestnet has produced, and we look forward to even more innovative developments going forward."

These strategies are offered in partnership with QRG Capital Management, Envestnet's in-house investment team and a pioneer in implementing direct indexing within the UMA construct.

With direct indexing, investors hold the individual securities that make up an index, rather than pooled vehicles like ETFs or mutual funds. This structure enables enhanced tax management, such as tax-loss harvesting, along with the flexibility to incorporate personal values or investment preferences. Historically reserved for high-net-worth clients due to complexity and cost, direct indexing is now broadly accessible thanks to advancements in automation, fractional share trading, and zero-commission platforms.

"Direct indexing represents the next chapter in personalized portfolio construction," said Aaron Bauer, Strategic Partnership Head for Envestnet. "By bringing together the scale and innovation of State Street Global Advisors with the integrated technology of the Envestnet platform, we're helping advisors unlock the full potential of tailored, tax-efficient investment solutions."

The direct indexing collaboration between Envestnet and State Street Global Advisors was announced today at the Venetian Resort Las Vegas during the Elevate 2025 session "Partnering to Unlock Efficiency, Scale, and Growth," which discussed actionable insights into how Envestnet's partnerships can help advisors drive success and improve client outcomes. Envestnet and State Street thought leaders will discuss "How a Low-Cost Managed Account Program Can Evolve Your Business" at 1:45 p.m. PDT today with Elevate participants. State Street will also be presenting "The Growth Imperative: Delivering Value Amid Change and Opportunity," at 11:15 a.m. PDT and again at 2:45 p.m. PDT on Thursday, April 10.

To view the entire Envestnet Elevate 2025 schedule, please visit https://www.envestnet.com/event/elevate/glance/.

ABOUT ENVESTNET
Envestnet is helping to lead the growth of wealth managers and transforming the way financial advice is delivered through its ecosystem of connected technology, advanced insights, and comprehensive solutions—backed by industry-leading service and support. Serving the wealth management industry for 25 years with approximately $6.5 trillion in platform assets, Envestnet technology and services are trusted by more than one-third of all financial advisors. Many of the largest U.S. banks, wealth management and brokerage firms, and RIAs depend on Envestnet to help drive business growth and productivity—and deliver better outcomes for their clients.

For a deeper dive into how Envestnet is shaping the future of financial advice, visit www.envestnet.com. Stay connected with us for the latest updates and insights on LinkedIn and X (@Envestnet_).

ABOUT STATE STREET GLOBAL ADVISORS

For over four decades, State Street Global Advisors has served the world's governments, institutions, and financial advisors. With a rigorous, risk-aware approach built on research, analysis, and market-tested experience, and as pioneers in index and ETF investing, we are always inventing new ways to invest. As a result, we have become the world's fourth-largest asset manager* with US $4.72 trillion† under our care.

*Pensions & Investments Research Center, as of 12/31/23.
†This figure is presented as of December 31, 2024 and includes ETF AUM of $1,577.74 billion USD of which approximately $82.19 billion USD in gold assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated. Please note all AUM is unaudited.

Disclosure: Envestnet has entered into a strategic relationship with SSGA for certain program offerings. For more information regarding this relationship and the related conflicts, please see Envestnet's Form ADV Part 2A.

1 ETFs managed by State Street Global Advisors have the oldest inception dates within the US, Hong Kong, Australia, and Singapore. State Street Global Advisors launched the first ETF in the US on January 22, 1993; launched the first ETF in Hong Kong on November 11, 1999; launched the first ETF in Australia on August 24, 2001; and launched the first ETF in Singapore on April 11, 2002.
2 P&I Research Center, as of December 31, 2023.
3 This figure is presented as of December 31, 2024 and includes ETF AUM of $1,577.74 billion USD of which approximately $82.19 billion USD in gold assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated. Please note all AUM is unaudited.

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SOURCE Envestnet