In an evolution of direct indexing, Neuberger
Berman's Customize Direct Investing solution will be integrated
into Key Wealth's Equity Strategies to help customize portfolios
and manage tax impact for Key clients
CLEVELAND and NEW
YORK, March 18, 2024 /PRNewswire/ -- Neuberger
Berman, an employee-owned, private, independent investment manager,
and Key Wealth, the wealth management business of KeyCorp
(NYSE:KEY), announced the introduction of Neuberger Berman's Custom
Direct Investing (NB CDI™) solution to tax optimize Key Wealth
equity strategies for long-term wealth growth for Key Wealth's high
net worth (HNW) and ultra-high net worth (UNHW) clients.
NB CDI™ is a Separately Managed Account (SMA) platform that
customizes portfolios to client specifications around tax
liabilities, personal values, factor tilts and risk guidelines.
The NB CDI™ platform will provide custom implementation of Key
Wealth's proprietary equity strategies including Key Core Equity,
Key Sustainable Equity Advantage and Key High Dividend. The
customization offered by NB CDI™ aims to enhance Key's
existing strategies by seeking to provide clients consistent tax
alpha with precise tax loss harvesting. This tax loss harvesting
has the potential to offset capital gains within a broader
portfolio in a way that ETFs, mutual funds or tax-unaware
management cannot. This approach is designed to not only seek
to increase after-tax investment returns but also to elevate 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 optimization across the entirety of
an investor's equity allocation can result in a better client
outcome."
"We recognize that taxes can significantly affect portfolio
performance, and this is a concern that resonates deeply with our
partners and their clients," said 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."
About Neuberger Berman
Neuberger Berman is an employee-owned, private, independent
investment manager founded in 1939 with 2,800 employees in 26
countries. The firm manages $463
billion of equities, fixed income, private equity, real
estate and hedge fund portfolios for global institutions, advisors
and individuals. Neuberger Berman's investment philosophy is
founded on active management, fundamental research and engaged
ownership. UNPRI named the firm a Leader, a designation awarded to
fewer than 1% of investment firms for excellence in environmental,
social and governance practices. Neuberger Berman has been named by
Pensions & Investments as the #1 or #2 Best Place to Work in
Money Management for each of the last ten years (firms with more
than 1,000 employees). Visit www.nb.com for more information.
Data as of December 31, 2023.
About Key Wealth
Key Wealth is the wealth management business of KeyCorp
(NYSE:KEY) one of the nation's largest bank-based financial
services companies with assets of approximately $188 billion at December
31, 2023. Key Wealth provides financial planning,
investment, fiduciary, banking and credit, insurance and business
solutions tailored to meet our clients' specific goals and
needs.
Key Wealth which includes Key Private Bank, Key Family Wealth
and Key Institutional Advisors has served our HNW, UHNW and
Institutional segments for nearly 200 years.
Key Wealth, Key Private Bank, Key Family Wealth, KeyBank
Institutional Advisors and Key Private Client are marketing names
for KeyBank National Association (KeyBank) and certain affiliates,
such as Key Investment Services LLC (KIS) and KeyCorp Insurance
Agency USA Inc. (KIA).
Investing involves risk, including potential loss of principal
amount invested. There is no guarantee that investment objectives
will be achieved. Past performance does not guarantee future
results. Asset allocation and diversification do not guarantee
returns or protect against losses.
Investment products and services are:
NOT FDIC INSURED ● NOT BANK GUARANTEED ● MAY LOSE VALUE ● NOT A
DEPOSIT ● NOT INSURED BY ANY FEDERAL OR STATE GOVERNMENT AGENCY
CFMA 12032024 -2472183
Media Contacts:
For KeyCorp: Laura Mimura
216.471.2883, laura.mimura@key.com
For NB: Alex Samuelson, 212 476
5392, Alexander.Samuelson@NB.com
All Neuberger Berman information is as of December 31, 2023, unless otherwise indicated and
is subject to change without notice. Firm data, including employee
and assets under management figures, reflects collective data for
the various affiliated investment advisers that are subsidiaries of
Neuberger Berman Group LLC. Firm history/timeline includes the
history of all firm subsidiaries, including predecessor entities
and acquisitions.
This material is being issued on a limited basis through various
global subsidiaries and affiliates of Neuberger Berman Group LLC.
Please visit www.nb.com/disclosure-global-communications for the
specific entities and jurisdictional limitations and restrictions.
The "Neuberger Berman" name and logo are registered service marks
of Neuberger Berman Group LLC. © 2024 Neuberger Berman Group LLC.
All rights reserved.
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