LifeYield, the cloud-based solution for managing household portfolio assets, has surpassed the $1 trillion mark in total assets under administration (AUA), according to a news release.
Over 90,000 financial advisors actively use the tax-smart, risk-smart LifeYield Advantage Suite.
LifeYield began as a collaboration between Paul R. Samuelson, chief investment officer and co-founder, and his father, Nobel economics prize-winning economist Paul A. Samuelson. Both held a long-running interest in tax-smart investing.
After years of offering investment and tax-related advice to family and friends, they recognized that neither individual investors nor their advisors could build tax-smart portfolios alone, according to LifeYield CEO Mark Hoffman.
“Paul and his father, both consummate problem solvers, fielded complaints from friends and family about how to juggle various accounts, asset allocations, tax rates and realized gains,” Hoffman said in the news release.
To meet market demand, father and son founded LifeYield in 2008.
The LifeYield Advantage Suite they developed, which includes the Taxficient Score, Portfolio Advantage, Income Advantage and Social Security Advantage, helps investors, advisors and firms improve financial outcomes, as well as attract and retain clients.
LifeYield is available through partnerships and integrations with Morgan Stanley, Charles Schwab, Envestnet, LPL Financial, Allianz, Franklin Templeton, SunTrust, Orion, Black Diamond and many others firms.
“Today, LifeYield is used by the biggest names in the industry,” Hoffman said in the release. “Most importantly, [it] is helping thousands of investors make and keep more of their money.”
LifeYield is headquartered in Boston.