MyVest rolls out transition planning, risk management and analysis upgrades for advisors

San Francisco-based customized investment software-maker MyVest has upgraded its platform with new transition planning, risk management and tax-aware rebalancing tools.

This week, the TIAA subsidiary led by Anton Honikman announced that a new asset class drift capability was added to its lineup of rebalancing modes, expanding the choices for advisors to manage risk. 

Drift happens as individual securities in a portfolio appreciate or depreciate in value and veer off of their original allocations over time. The upgrade also allows advisors to control drift tolerance ranges at the level of each asset class, ensuring that no two asset classes need to be treated the same. 

"Managing the tax sensitivities of our clients is critical in helping them achieve their financial goals," Jeremy Mobley, director of product strategy and execution at TIAA, said in a statement. "Using MyVest's expanded rebalance function that recognizes those sensitivities while supporting client specific customizations, is helping our portfolio managers deliver more optimal outcomes at scale."

The MyVest refresh also includes reworked "what-if" analysis tools that deliver pre-trade analytics for rebalances driven by a proposed model change. Officials say this allows MyVest users to see how a model change will impact all portfolios before finalizing any decisions. 

Meanwhile, enhanced transition planning capabilities enable advisors to selectively delegate the creation of transition plans to a central team.

Officials said the upgrades build on the platform's existing transition planning capabilities that include household tax budgeting, automated keep/sell analysis of legacy securities and security-level substitutions.

Earlier this year, MyVest was noted as a "vendor to watch" in an Aite-Novarica analysis of the best RIA portfolio management and reporting systems.

Addepar, InvestCloud and SS&C Black Diamond were recognized as best-in-class vendors in the Aite-Novarica analysis. The study said it was a "photo finish" between InvestCloud and SS&C, closely followed by Addepar.