The purpose of this research is to provide readers with a comprehensive understanding of personalized (direct) indexing. Parametric & Aperio Group have been leaders in this market. This research fits within Tiburon's index investing series, which in turn fits within Tiburon's specialized topics series, which includes a wide variety of trending topics. This research also is a key future prediction for separately managed account (SMA) programs.

• Underlying Key Driving Factors
  • Tax Efficiency
  • Personalization Needs
• Timing Key Driving Factors
  • Zero Commission Trades
  • Enhanced Technology Capabilities

This research defines core product markets within personalized (direct) indexing, including:

• Equity Personalized (Direct) Indexing
• Fixed Income Personalized (Direct) Indexing

This research defines personalized (direct) indexing markets & distribution channels, including:

• Full-Service Brokerage Firms
• Discount & Online Brokerage Firms
• Independent Advisors

And this research makes several future predictions for personalized (direct) indexing, including:

• Substantial Growth in Personalized (Direct) Indexing
• Still Dominant Share with Equity Personalized (Direct) Indexing But Fastest Growth in Fixed Income Personalized (Direct) Indexing
• Still Dominant Share with Full-Service Brokerage Firms But Fastest Growth in Discount & Online Brokerage Firms & Independent Advisors Markets & Distribution Channels
• Democratization & Declining Account Minimums and Fees
• Personalized (Direct) Indexing Tools to be Pushed to Financial Advisors with Investment Management Firms Losing Share to Distribution Firms
• Substantial International Personalized (Direct) Indexing Opportunities
• Moderate Growth in Personalized (Direct) Indexing Firms Venture Capital Investments
• Moderate Growth in Personalized (Direct) Indexing Firms Mergers & Acquisitions
• Limited Personalized (Direct) Indexing Firms Initial Public Offerings (IPOs)