Cloud version free for TDA accounts; standalone version starts at 20,000 USD per year
Set-up time:
1 day
Integrations:
Orion, PortfolioCenter, Tamarac, Advent Axys and APX, Black Diamond, Veo, Veo One, Envestnet, Morningstar, as well as other custom interfaces
Smartleaf
This company is another major player, offering a whole new level of rebalancing software. Smartleaf is a popular top-tier provider of automated portfolio rebalancing and tax-efficient solutions. The firm creates a seamless experience for wealth managers, RIAs, broker-dealers, banks, and turnkey asset-management programs. Being highly customizable, its toolkit enables users to offer an exclusive value proposition to each client, tailored to their investment philosophy and goals. Smartleaf has strategic partnerships with Bank of Hawaii, APEX Clearing, US Bank, and many other institutions.
Other Options
Apart from the popular offerings outlined above, a number of other rebalancing solutions are worth mentioning.
For example, Fidelity Investments has variety of tools for portfolio management. Its advanced modeling and rebalancing solutions are fully integrated with Wealthscape. Similarly, Wells Fargo’s digital account rebalancing engine for advisors, called ART, can be used to forecast returns, see how allocation changes impact forecasts, and obtain recommended buys and sells needed to rebalance the portfolio. Furthermore, in Canada, Croesus offers a modeling and rebalancing component among its portfolio-management solutions. The firm is on a mission to reduce the need for manual data entry and eliminate potential errors through its SMA and UMA modeling and rebalancing module.
The decision on which rebalancing software to use depends on many factors. While the main features are fairly similar across all platforms, integrations with custodian banks might play a major role when choosing a tool for effective asset management.