An increasing number of investors are adopting a direct indexing strategy in their portfolios, investing in the underlying securities in an index (like the S&P 500) rather than investing in the index itself. For years, direct indexing was only available to large institutional clients and ultra-high-net-worth individuals—but thanks to state-of-the-art technology, mid-sized institutions and high-net-worth investors can now use direct indexing to build their own customized passive portfolios.
We recently held an important webinar to discuss direct indexing in passive portfolios, how it benefits investors, and how state-of-the-art technology has made it easier than ever to do so. Michael J. Lepore, CIMA®, Managing Director of Institutional Client Services at GYL Financial Synergies will be joined by Jonathan Hudacko, Principal of Personalized Indexing at Vanguard. Jonathan’s company, Just Invest, created the wealth management technology that investors and advisors can use to build bespoke portfolios to meet their needs. Jonathan shared his insights on direct indexing and the opportunities available to investors and specifically, he covered:
Jonathan Hudacko is the principal of Personalized Indexing at Vanguard and the former CEO of Just Invest and Just invest Systems, a registered investment advisor and an independently operated, wholly-owned subsidiary of Vanguard. Prior to Just Invest, Jonathan was the COO of Pluribus Labs, a Berkeley-based research and technology firm employing advanced AI and textual analysis to derive investment signals from non-traditional data sources.
Jonathan’s investment career began at MSCI Barra, where he headed the portfolio analytics business for institutional investors. Jonathan managed the profit and loss business unit and worked with leading global investors to drive product innovations in multi-asset-class risk modeling and asset-allocation solutions. Before entering the investment world, Jonathan started his career at Apple. Jonathan holds dual BAs from Stanford University and an MBA from the Haas School of Business, University of California, Berkeley.
Michael J. Lepore, CIMA® is the Managing Director of Institutional Client Services at GYL Financial Synergies, where he specializes in asset management analysis and investment manager selection for institutional clients. He also provides consulting services to municipalities, self-insurance funds, corporations, and non-profit organizations and select high-net-worth private clients in areas that include investment policy, asset allocation and investment management selection, and oversight.
Prior to GYL Financial Synergies, Michael worked for Wells Fargo Advisors and its predecessors, where he was one of 75 members of the Senior Consulting Council, Wells Fargo Advisors’ elite senior consulting group. Michael graduated from the University of Rochester with a degree in Economics as well as a Certificate in Management and Finance. He also studied at the London School of Economics and did graduate work at the University of Connecticut. Michael holds the Certified Investment Management Analyst® certification, administered by the Investments & Wealth Institute™ (formerly known as the Investment Management Consultants Association®) and taught in conjunction with the Wharton School at the University of Pennsylvania.
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