Strive Asset Management Launches Direct Indexing on Fidelity and Schwab Platforms

Strive Asset Management, co-founded by Vivek Ramaswamy, has announced that its innovative Direct Indexing service is now available on the Fidelity Investments and Charles Schwab platforms. This significant development allows investors to track the performance of financial indexes through individual stock ownership instead of relying on exchange-traded funds (ETFs) or mutual funds. The approach not only enhances customization options for investors but also provides greater control over their equity holdings.

One of the standout features of Strive’s Direct Indexing is its focus on tax optimization. Investors can explore tax loss harvesting opportunities daily, enabling them to realize potential tax benefits. Additionally, this service allows for in-kind transfers from existing equity portfolios, simplifying the transition process for clients. Strive’s commitment to sweeping improvements in shareholder governance is further emphasized by its approach, which allows for full proxy voting coverage and corporate engagement managed by Strive’s in-house team, independent of environmental, social, or diversity constraints.

According to Matt Cole, the CEO of Strive Asset Management, the economic climate in recent years has presented challenges to large-cap companies, with 97% experiencing drawdowns of 10% or more in 2023. Cole highlights the unique advantage of Strive's Direct Indexing, noting that the investment strategy will help investors capitalize on these fluctuations by allowing daily loss harvesting while benefiting from a shareholder advocacy stance.

This announcement is not just exciting for investors; it’s also a significant collaboration with Vestmark, a leading technology provider in portfolio management. Karl Roessner, CEO of Vestmark, has expressed enthusiasm about partnering with Strive to expand their offerings further into the realm of Direct Indexing. Roessner emphasized the importance of individualized, tax-optimized portfolio creation, which allows Strive to meet its clients' diverse financial goals.

Vestmark's technology is recognized for its capability to streamline the creation of personalized client portfolios while ensuring effective management of transactions related to legacy positions. The company was recently acknowledged for its excellence in Direct Indexing by WealthManagement.com, affirming its commitment to innovation in financial services.

Strive Asset Management has rapidly grown since its inception, currently managing over $1.8 billion in assets with a mission to promote unapologetic capitalism. Strive, which launched in August 2022, focuses on maximizing shareholder value, standing as a counter to trends in socially responsible investing that some feel may compromise financial performance. Furthermore, the firm has also rolled out its wealth management division to provide Americans with genuine financial freedom, including the integration of Bitcoin into traditional investment portfolios.

This launch is part of a broader industry shift towards more personalized and tax-efficient investment mechanisms, indicating a growing trend that favors individual control and adaptability in investment strategies. Strive’s Direct Indexing solution reflects this trend, now accessible to a wider range of investors through trusted platforms like Fidelity and Schwab.

Investors looking to explore Strive's Direct Indexing can learn more about the offering through these platforms. With an emphasis on shareholder advocacy and an innovative approach to tax management, Strive aims to carve out a unique and valuable niche in the competitive financial landscape.