Key Wealth, KeyCorp’s wealth management subsidiary, and employee-owned Neuberger Berman jointly created Neuberger Berman Custom Direct Investing (NB CDI). It is a tax-optimised equities strategy for long-term wealth building for Key Wealth’s high net worth (HNW) and ultra-high net worth (UNHW) clients.

NB CDI is a platform for separately managed accounts (SMAs) that builds portfolios based on customer requirements including risk tolerance, factor tilts, personal values, and tax obligations.

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The platform will apply Key Wealth’s patented equity strategies, such as key core equity, key sustainable equity advantage, and key high dividend.

By attempting to give clients consistent tax alpha with accurate tax loss harvesting, NB CDI customisation seeks to improve Key’s current tactics.

Moreover, the tax loss harvesting has the ability to balance capital gains within a larger portfolio in a way that ETFs, mutual funds, and tax-agnostic management cannot. This strategy is intended to not only raise after-tax investment returns but also improve the overall client experience.

“We’re excited to introduce Neuberger Berman’s Custom Direct Investing platform as part of our proprietary equity strategies for our HNW and UHNW clients,” said Jonathan Theberge, director of wealth services for Key Wealth. “Providing tax optimisation across the entirety of an investor’s equity allocation can result in a better client outcome.”

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“We recognise that taxes can significantly affect portfolio performance, and this is a concern that resonates deeply with our partners and their clients,” added Scott Kilgallen, managing director and head of North American intermediary at Neuberger Berman. “By actively implementing tax-efficient strategies tailored to the unique needs of each investor, we empower portfolio managers with a robust tool.”