OpenInvest, the tech-enabled asset manager that enables customization, direct indexing and impact investing at scale, announced today that it will offer financial advisors at Bank of the West's BancWest Investment Services access to customizable values-based portfolio generation tools.
"Mass customization is the future of wealth management," said Joshua Levin, co-founder and chief strategy officer, OpenInvest. "OpenInvest is a tech-enabled asset manager that allows advisors and financial institutions to better serve their clientele through personalization - at scale - while maintaining the discipline and controls of a home office. We're excited to provide services to BancWest Investment Services and empower their advisors with the tools they need to provide factor portfolios and customized values-based portfolios with ease."
OpenInvest's technology will enable BancWest Investment Services to generate customized investment portfolios tailored to each individual client's values at a granular level, while capitalizing on BancWest Investment Services' financial expertise, discipline, and compliance. BancWest Investment Services' financial advisors now have the ability to execute rich, real-time, and disciplined customization of private wealth client portfolios through OpenInvest's proprietary Dynamic Custom Indexing (DCI) technology systems.
BancWest Investment Services clients will also receive quarterly "Impact Statements." Alongside their financial returns, OpenInvest will report on the concrete environmental and social impacts generated by their investments, including tons of carbon avoided and total reduction in the number of cigarettes produced each year.
"Bank of the West believes that your money has values, as well as value," said Darin Dubendorf, head of client solutions, Bank of the West, and president, BancWest Investment Services. "As one of the only large U.S. banks with policies aimed at helping protect our planet, it's crucial that we help responsible investors meet their individual goals related to sustainability and social impact. This solution represents an opportunity to not only drive return on investment, but also showcase the real, tangible results generated by using your money to make bold choices and support critical actions to make the world a better place."
Unlike mutual funds or ETFs, an OpenInvest SMA provides granular customization, impact reporting, and proxy voting, while its proprietary algorithms automatically rebalance portfolios to keep them dynamically diversified as investors divest/invest. The OpenInvest platform integrates multi-sourced environmental, social and governance (ESG) data, which consistently update to stay best-in-class. OpenInvest offers a number of causes, such as divestment from fossil fuel producers and major greenhouse gas emitters; investment in corporate women leaders and LGBTQIA+-friendly companies, companies supporting refugees, and more.