Tax-aware direct indexing, redefined.
Most platforms direct-index the major indexes and stop. The Accountable platform composites a client's whole US-equity sleeve — index funds, ETFs, individual stocks, or the model you already run — into one direct-indexed portfolio: built on its own risk model, composed factor by factor, transition-aware from the first trade. For portfolios of any size — new money or an existing book.
See how it works.
Alpha access is available for select firms. Schedule a demo — see the platform composite a sample portfolio, then run your own inside it.
- Any US-equity mix or model — index funds, ETFs, individual stocks
- Portfolios of any size — new money or an existing book
- Ongoing, wash-sale-aware tax-loss harvesting across the whole sleeve
A real advisor model, direct-indexed.
The US-equity sleeve of an actual growth model — eight ETFs — composited into one book: what it holds, how it tilts, and a five-year growth comparison at assumptions you control.
Three things, done end to end.
Composite direct indexing
Load the sleeve — or the model — into the platform as your client actually holds it. The engine replaces each fund with what it holds, blends the constituents into one stock-level benchmark, and composes the book against it on Accountable's own risk model: factor by factor, not name by name.
- Any mix of US-equity index funds, ETFs, and individual stocks
- Factor-based composition on Accountable's own risk model — tracking the blend's exposures, not just its names
- Transition-aware: legacy positions, embedded gains, and concentrated stock are part of the plan from day one
- Exclusions, position caps, and completion around what the client already owns — for portfolios of any size
Tax management that compounds
Owning the securities is designed to avoid the fund wrapper's tax costs: no capital-gain distributions, and reallocations that trade only the difference between blends. Then ongoing, wash-sale-aware harvesting can build losses that offset the client's gains elsewhere — a benefit that depends on each client's tax situation.
- No fund distributions — the client owns the stocks, not the wrapper
- Model changes trade the delta, netting losses against gains inside the trade
- Ongoing lot-level tax-loss harvesting, wash-sale-aware before every trade
- Tax budgets per client and after-tax reporting for every account
Transition-aware from day one
An existing book arrives with legacy positions, embedded gains, and concentrated stock. The composition engine treats them as inputs, not obstacles: it keeps what fits, completes around what the client already owns, and proposes the rest of the path against a tax budget, for the advisor to approve.
- Legacy positions and embedded gains are part of the optimization, not a pre-step
- Completion around concentrated stock instead of a forced sale
- Per-account tax budgets pace the transition; drift control keeps it on the blend
- The same engine and after-tax reporting for a fresh account and a transitioned one
Three tax costs built into a fund-based portfolio.
Funds and model portfolios solved delivery. For taxable clients, a fund-based implementation carries structural tax costs the performance report never shows. Owning the securities is designed to avoid them at the root — and can add a benefit pooled vehicles generally don't pass through.
The wrapper stops taxing you
Mutual funds must distribute the gains they realize — on someone else's schedule, and the bill grows when other investors leave. ETFs largely fixed the holding cost. Owning the stocks directly goes further: with no fund wrapper, there are no fund capital-gain distributions at all.
The model's own trading stops taxing you
Selling a fund position realizes its whole embedded gain. Expressed at the stock level, a reallocation trades only the difference between the old and new blends — mostly the same companies at slightly different weights — and losses net against gains inside the trade.
Dispersion becomes harvestable losses
With several hundred securities, some sit at a loss even when the index is up. Harvested at the security level, wash-sale-aware, those losses can offset the client's gains elsewhere — a benefit pooled vehicles generally don't pass through, and one that depends on each client's tax situation.
Harvested continuously. Lot by lot.
A book doesn't have to be "done" to be harvested. The engine scans every lot continuously — through a transition, a model change, or steady state — and pairs each eligible harvest with a reinvestment at the target model, queued for the advisor. That's what makes transitioning an existing book seamless: it can migrate on harvested losses and new cash instead of a one-time capital-gains bill.
- Harvesting runs continuously — mid-transition, mid-model-change, or at steady state
- Each harvest's proceeds re-enter at the target model — harvesting and transition are one motion
- Wash-sale-aware — every harvest checked against the account's full lot history first
- Tax budgets cap realized gains per client, per year
TLH scan Henderson portfolio — mid-transition, day 12
From a client's book to a tax-managed portfolio.
New money or an existing book full of legacy positions — both run through the same composition and tax engine. Alpha access is available for select firms; email us to schedule a demo on a sample portfolio, then run your own book inside the platform.
Bring the book — or the model
Load the US-equity mix a client actually holds — or the model you run across clients — into the platform: funds, ETFs, individual stocks. An existing book comes as it is: legacy holdings, embedded gains, concentrated stock, ETFs that can't be transferred in kind. Those are inputs, not a pre-step.
The engine composites it
Each fund becomes what it holds; the blend becomes one stock-level benchmark; the book is composed against it on the risk model, factor by factor, with exclusions and position caps. For an existing book the engine keeps what already fits, completes around concentrated positions instead of selling them, and paces realized gains against a per-account tax budget.
The engine builds the trade list
Ongoing lot-level tax-loss harvesting, wash-sale checks, drift control, tax budgets, and after-tax reporting — executed under the advisor's discretion, the same for a fresh account and a transitioned book.
Bring the whole sleeve.
Alpha access is available for select firms. Schedule a demo — see the platform composite a sample portfolio, then run your own inside it. Built by the team behind Accountable's direct-indexing engine.