State Street Global Advisors Announces Strategic Partnership and Investment in Ethic

BOSTON--(BUSINESS WIRE)--State Street Global Advisors (SSGA), the asset management arm of State Street Corporation (NYSE: STT), today announced that it has made an equity investment in Ethic Inc. (Ethic), a technology-driven asset management platform that powers personalized, values-aligned, and tax-smart investing for financial intermediaries.

SSGA and Ethic also announced a strategic partnership to deliver customized investment solutions at scale to SSGA’s institutional and financial intermediary clients. Key features of the partnership include:

• Innovative investment solutions – the creation and management of customized separately managed accounts (SMAs), model portfolios, and unified managed accounts (UMAs) powered by SSGA and Ethic.
• Technology-driven experience – an engaging advisor and client experience, spanning unique proposal generation, portfolio transition plans, and reporting.
• Customization with scale – a scalable platform that empowers intermediaries to create highly customized portfolios that seek to align with clients' individual preferences, goals, and values.

“This new partnership underscores our broader commitment to meeting the growing demand for customized portfolios,” said Yie-Hsin Hung, chief executive officer of State Street Global Advisors. “Ethic has seen incredible growth in a short period thanks to industry-leading technology and deep expertise that help advisors deliver portfolios that reflect what matters most to clients. Ethic’s platform has become a standard-bearer for customization, and we’re excited to help them reach new audiences.”

The shift toward personalization is reshaping the financial services industry, with investors increasingly expecting portfolios tailored to their individual values, risk tolerance, and tax situation. A recent SSGA study underscores this trend, revealing that nearly two-thirds of U.S. investors want more personalized advice, while 85% of advisors believe tax personalization enhances a portfolio’s value proposition. To meet this growing need, SSGA has partnered with Ethic to provide a seamless, technology-driven solution, enabling financial intermediaries to construct personalized portfolios at scale.

“We see our role as empowering intermediaries to help their clients invest in the future that they want to see,” said Doug Scott, chief executive officer and co-founder at Ethic. “With this new funding round and strategic partnership, we’re excited to be accelerating the adoption of personalized, values-aligned, and tax-smart investing.”

Today’s announcement reflects SSGA leading Ethic’s $64 million Series D funding round and further builds on its commitment to creating original solutions and better outcomes for its clients and the world's investors, including through its recently launched investor campaign, “Getting There Starts Here.”

About State Street Global Advisors
For over four decades, we at State Street Global Advisors have 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.

About Ethic
Ethic partners with advisors and institutions to deliver personalized, values-aligned, and tax-smart investing. Its technology powers sophisticated investment solutions through a simple and engaging client experience. The company is backed by investors including Oak HC/FT, Nyca Partners, Fidelity, UBS, State Street, Jordan Park Group, and Kapor Capital. Ethic is an SEC Registered Investment Adviser based in New York City.

Disclosures
Investing involves risk including the risk of loss of principal. The information provided does not constitute investment advice and it should not be relied on as such.

SPDR ETF Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect wholly owned subsidiary of State Street Corporation. One Iron Street, Boston, MA 02210

The SPDR^® trademark is used under license from S&P Global Inc. or its affiliates (“S&P”). No financial product offered by SSGA or its affiliates is sponsored, endorsed, sold, or promoted by S&P.

Ethic is an SEC registered investment adviser. Ethic may only transact business or render personalized investment advice in those states and international jurisdictions where they are registered/filed notice or otherwise excluded or exempted from registration requirements.

Ethic is not a client of SSGA. No direct compensation was received by Ethic related to this press release; however, Ethic and SSGA have entered into a strategic partnership that involves revenue sharing between Ethic and SSGA based on client referrals and net revenue from SPDR ETFs on Ethic’s platform.

SSGA and Ethic Inc. does not render any legal, accounting, or tax advice.

Before investing, consider the funds’ investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257 or visit www.ssga.com. Read it carefully.

7812956.1.1.AM.RTL

Expiration: 4/30/2026

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