Strive Asset Management is accelerating its diversification beyond traditional investment products by expanding into direct indexing. The company has partnered with Vestmark to leverage its Vast turnkey portfolio management technology for the service and signed agreements to list it on platforms operated by Fidelity and Charles Schwab.
The new direct indexing service incorporates daily tax-loss harvesting, in-kind transfers from existing equity portfolios, and proxy voting aligned with Strive’s anti-environmental, social, and governance (ESG) investing philosophy. According to the company, the offering prioritises financial outcomes for clients while rejecting ESG and diversity, equity, and inclusion (DEI) constraints.
“Strive’s direct indexing focuses on the best financial outcome for the client and includes full proxy voting coverage and corporate engagement from our in-house corporate governance team without regard to ESG or DEI constraints,” the company said in a statement.
This expansion follows Strive’s recent launch of a wealth management division and its entry into the retirement plan business earlier this year through a pooled-employer plan in partnership with Ameritas.
Despite a slower start for its proxy advisory service launched last year, Strive’s broader business strategy remains grounded in “shareholder capitalism,” the principle underpinning its debut two and a half years ago.
The firm’s profile continues to grow, bolstered by the election of Donald Trump, who named Strive co-founder and majority owner Vivek Ramaswamy to co-lead the new Department of Government Efficiency alongside Tesla CEO Elon Musk. Ramaswamy, a vocal Trump supporter, is expected to play a key role in advancing the administration’s agenda.
