MyVest Launches Separately Managed Models to Extend Overlay Management Across Every Sleeve in a Household Portfolio

New capability treats each investment sleeve as its own security, preserving tax efficiency and manager mandate across advisor-run and third-party models and SMAs

SAN FRANCISCO--(BUSINESS WIRE)--MyVest, a leading provider of enterprise wealth management technology, today announced the addition of Separately Managed Models (SMM) to its Strategic Portfolio System™ (SPS), introducing a new innovation for wealth management firms seeking to incorporate various portfolio management rules for different sleeves within a unified, centrally managed portfolio.

SMM provides a clear way for firms to separate management responsibilities within a single account. Advisors or internal investment teams can manage a specific sleeve, such as a core equity model, while the rest of the portfolio remains under centralized management. This separation makes it easier for each party to focus solely on their assigned portion of the client portfolio while minimizing conflicting actions.

The new capability also enables firms to treat each model as its own individual security inside an account. This allows MyVest’s SPS to evaluate SMM sleeves alongside other securities when raising or deploying cash, and ensures the entire portfolio remains aligned with household-level allocation targets. Each SMM can also be governed by its own rebalancing rules, including different risk and rebalancing methods (e.g., tax-aware tracking-error methodology) and custom materiality thresholds, while SPS continuously evaluates models, pooled products and individual securities to identify opportunities for further optimization.

Driven by customer request, MyVest’s SMM development builds on previous portfolio management innovation. Customers wanted to introduce their own core equity models into their non-qualified accounts. Instead of using a standard ETF or mutual fund for the large cap asset class, SMM provides a personalized pooled asset, enabling them to manage better after-tax outcomes. It also builds on MyVest’s own customized advisor-managed sleeve capability, an enabled tool since 2021.

MyVest plans to provide external sub-advisors and traditional SMA managers with direct access to the platform, so they can submit model composition changes or trade their models themselves, just as they do today within the conventional SMA construct. This positions SMM as the primary vehicle for delivering third-party asset manager models, providing those managers a direct line into the overlay to direct how their models are implemented and traded. The result: asset managers retain the same degree of control they've always had over their strategies, while the platform absorbs the operational complexity of running those mandates at scale. It's the SMA relationship, reimagined for the modern overlay environment.

“Incorporating Separately Managed Models into MyVest’s Strategic Portfolio System represents a major step forward in how firms can deliver personalization at scale,” said David Costain, Director of Product Management at MyVest. “We have heard our clients’ wishes for a simpler way to separate management duties without disrupting household-level oversight. Unlike a traditional SMA, SMM models are fully aware of the investor’s restrictions, tax budget, and cash needs. With SMM, we’re introducing a cleaner, more precise model structure that treats each sleeve as its own security and keeps it optimized. It’s a direction we’ve been preparing for, and we’re excited to help lead it forward.”

About MyVest

MyVest powers tomorrow’s wealth management firms, today. Driven by a vision for client-centric advice, we are a pioneer in enabling firms and advisors to deliver personalized portfolios at scale. A subsidiary of TIAA, we are headquartered in San Francisco. Learn more at myvest.com.