Just Invest

What Just Invest does

Just Invest, founded in 2016 and headquartered in Oakland, California, operates today as Vanguard Personalized Indexing Management, LLC, an SEC-registered investment advisor and independently operated wholly-owned subsidiary of The Vanguard Group, Inc. The company provides a direct indexing technology platform, branded Vanguard Personalized Indexing, that enables financial advisors and wealth managers to build customized, tax-efficient separately managed accounts (SMAs) at scale for high-net-worth and ultra-high-net-worth clients. Its core technology centers on a daily automated tax-loss harvesting (TLH) engine that scans client portfolios each business day for harvesting opportunities, supported by automated rebalancing, real-time tax transition analyses, an advisor portal with daily API-fed data, and a customization engine that applies ESG screens and tilts, factor tilts, and security-level exclusions or inclusions.

The platform processes structured portfolio data, including individual stock holdings, tax lot information, ESG criteria, factor exposures, and market-capitalization weights, to construct SMAs against chosen benchmarks. It offers on-demand pre- and post-tax performance reporting, ESG impact reports, and tracking-error impact analysis. Distribution is exclusively B2B through financial advisors and wealth managers via an enterprise field sales motion, with a "Request a demo" call-to-action driving consultative sales and a content marketing/SEO strategy supporting top-of-funnel advisor education. Revenue is generated through asset management and advisory fees on assets under management, though specific pricing tiers and fee schedules are not publicly disclosed. The company operates with 11–50 employees and benefits from Vanguard's brand credibility and nearly 50 years of investing expertise, including Vanguard's 2022 recognition on IBD's 25 Most Trusted Financial Companies list.

Name

Just Invest

Legal name

Vanguard Personalized Indexing Management, LLC

Website

https://justinvest.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Just Invest, now Vanguard Personalized Indexing Management, LLC, provides a direct indexing technology platform that enables financial advisors to build customized, tax-efficient separately managed accounts for high-net-worth clients, featuring daily automated tax-loss harvesting. It operates as a wholly-owned subsidiary of The Vanguard Group.

Ownership category

akta.pro rank

Product category

Wealth Management Technology

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Automated Rebalancing, Tax-Loss Harvesting & Tax-Optimized Investing Tools (FSAGAEAE)

akta.pro secondary industries

Digital Wealth Platforms for Advisors (TAMP/Advisor Tech) (FSAGAEAH), Digital Brokerage & Self-Directed Investing Platforms (FSAGAEAC)

Keywords

• Direct indexing platform
• Tax-loss harvesting technology
• Separately managed accounts
• Wealth management technology
• Personalized portfolio management

Headquarters

HQ city

Oakland

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Investment Advisory / Asset Management Fees: The company operates as an SEC registered investment advisor offering separately managed accounts for direct indexing. Revenue is generated through asset management / advisory fees charged on assets under management. Financial advisors use the platform to manage high-net-worth client portfolios.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Just Invest (now operating as Vanguard Personalized Indexing Management, LLC) develops and operates a direct indexing technology platform that enables financial advisors to build tax-efficient, customized separately managed accounts at scale. The platform provides daily automated tax-loss harvesting, automated rebalancing, real-time tax transition analyses, ESG screens, factor tilts, and on-demand performance and impact reporting for high-net-worth client portfolios.

Product overview

Just Invest, LLC (now Vanguard Personalized Indexing Management, LLC) offers Vanguard Personalized Indexing, a direct indexing platform providing tax-efficient, customized separately managed accounts. The core product enables advisors to build portfolios with daily automated tax-loss harvesting, ESG screens and tilts, factor tilts, and customization capabilities including exclusion/inclusion of specific industries, sectors, or securities. The platform includes an advisor portal with on-demand portfolio analysis, pre- and post-tax performance reporting, ESG impact reports, and transition analysis scenarios.

Differentiator

Problem solved

Functional benefit

Products and services

• Vanguard Personalized Indexing A direct indexing platform offered to financial advisors and wealth managers that enables construction and ongoing management of tax-efficient, customized separately managed accounts at scale. It provides daily automated tax-loss harvesting, automated rebalancing, real-time tax transition analyses, ESG screens and tilts, factor tilts, security-level exclusions/inclusions, and on-demand pre- and post-tax performance and ESG impact reporting through a dedicated advisor portal.

Quantifiable outcome

• After-tax returns boosted by 1%-2% or more through daily tax-loss harvesting
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature6 records

Partnerships

One partnership is on record.

• The Vanguard Group, Inc.coreOthersVanguard Personalized Indexing Management, LLC (formerly Just Invest, LLC) is an independently operated wholly-owned subsidiary of The Vanguard Group, Inc. Vanguard provides the parent company's nearly 50 years of investing expertise and brand credibility to the direct indexing platform.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Emerging players

• Wealthfront: Robo-advisor with direct indexing-style tax-loss harvesting capabilities. Adjacent competitor for tax-aware HNW investors, though primarily direct-to-consumer rather than advisor-distributed.
• Betterment: Digital wealth platform offering tax-loss harvesting and tax-coordinated portfolios to retail and HNW clients. Adjacent capability to VPI's core TLH and customization value proposition.
• Natixis Investment Managers (Direct Indexing): Offers direct indexing capabilities through subsidiary offerings (e.g., FlexShares, managed accounts). A growing but smaller competitor in the advisor personalized-indexing market.

Broad incumbents

• BlackRock (iShares Direct Indexing): Largest asset manager offering direct indexing capabilities through iShares and advisor platforms. Competes for the same financial-advisor-driven personalized SMA wallet as Just Invest / Vanguard Personalized Indexing.
• Fidelity Personalized Indexing: Large incumbent wealth manager offering direct indexing and personalized SMA solutions for advisors and HNW clients; competes for similar advisor-led mandates.
• Morgan Stanley (Direct Indexing): Through Parametric and in-house capabilities, Morgan Stanley offers direct indexing to advisor-served and institutional clients. A scaled competitor in the personalized SMA space.
• Charles Schwab (Schwab Personalized Indexing): Major brokerage and asset manager with direct indexing capabilities for advisor-served clients. Broad incumbent with overlapping functionality and substantial scale advantages.

Others

• Orion Advisor Tech (TAMP/Portfolio Solutions): Advisor-facing technology and TAMP that integrates personalized SMA / direct indexing capabilities into advisor workflows. Comparable as ecosystem/adjacent infrastructure serving the same advisor channel.

Direct peers

• Parametric Portfolio Associates: Direct indexing pioneer and leading competitor; offers customized SMAs with tax-loss harvesting and direct ownership of underlying securities. Owned by Morgan Stanley, it competes head-to-head for advisor business in personalized indexing.
• Aperio Group (SSGA): Direct indexing specialist owned by State Street Global Advisors. Provides customized SMAs and tax-loss harvesting to advisors and institutions; one of the closest functional analogues to VPI's offering.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/JustInvestLLC
• LinkedInlinkedin.com/company/justinvestllc

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Just Invest