Direct indexing market map - Jan 2025 edition
New entrants, partnerships, and a big exit
It’s been 6 months since I last shipped this market map. My plan is quarterly from here on out.
This is the permanent link to the most current market map.
In the future, I’ll show the difference between versions. But for now, the big changes include:
Morningstar exiting the direct indexing business
Double entering the DTC arena
Wealthfront re-introducing direct indexing (and sniping at Frec)
Parametric announcing a handful of partnerships
Smartleaf Asset Management announcing householding
Brooklyn’s partnership with S&P
Reply with errors, omissions, and updates, and I’ll fix everything in the next version. Thanks in advance.
LSEG (FTSE Russell) for index data (weights, levels, holdings) across all the Russell index series seems missing in the Saas/Data section. This is a great visual market map, very useful!
I would add AQR. I have started using their Flex SMA direct indexing product with clients.