Trust Company of America (TCA), a provider of technology, custody and practice management support for registered investment advisers (RIAs), has rolled out a tax harvesting feature on its account management platform.
The company said that the new launch will allow advisers to manage the tax impact of capital gains on taxable portfolios of their clients, without any additional cost or paperwork.
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TCA president and CEO Joshua Pace said: "Our new tax harvesting feature gives advisors an easy and effective way to help clients realize short- and long-term losses to help offset gains, which can potentially increase their after-tax returns.
"By providing their clients with tax harvesting, advisors can add significant value to client relationships and clearly differentiate themselves from the competition."
TCA further said that the feature will allow advisers to sort investments in an account by short-term or long-term losses or gains.
At the same time, it will also enable advisers to assess multiple scenarios to determine the ideal tax harvesting strategy for a client.
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By GlobalData
