Research has shown that portfolios that are rebalanced at least annually experienced lower volatility and higher risk-adjusted returns than those that are not rebalanced. Every advisor should have access to a quality, automated software rebalancing tool to handle this task, which used to be a time-consuming chore.
As part of my series of articles on portfolio rebalancing software, I reached out to MyVest. The company was co-founded by Bill Harris in 2001 and has their headquarters is in San Francisco, CA. Harris, who is chairman of the Board of MyVest, was formerly CEO of both PayPal and Intuit and is currently the CEO of Personal Capital.
MyVest has been gaining traction recently, announcing a deal with Thomson Reuters to provide their Strategic Portfolio SystemTM (SPS) wealth management platform to users of Thomson Reuters’ Beta Systems clearance and custody platform. This will be a welcome improvement and provide Beta’s broker-dealer clients with a more modern managed accounts offering.
For this review, I spoke with Mike Everett, Vice President of Business Development and Charlie Haims, VP of Marketing. Everett joined the firm back in 2010 after 14 years at Checkfree (now Fiserv Investment Services). Haims has been with MyVest for almost a year and a half and was previously in the same role at SharesPost. Continue reading