Oakbrook Solutions Provides Guidance and Implementation for $2 billion Wealth Manager launching Direct Indexing Program

Oakbrook Solutions, Inc. is pleased to announce that it provided consulting services to Everence®, a $6.3 billion diversified financial services firm, to enhance its existing, successful investment platform by delivering custom ESG and tax-optimized portfolios to its clients.

WINSTON-SALEM, N.C., May 23, 2022 /PRNewswire-PRWeb/ -- Oakbrook Solutions, Inc. is pleased to announce that it provided consulting services to Everence®, a $6.3 billion diversified financial services firm, to enhance its existing, successful investment platform by delivering custom ESG and tax-optimized portfolios to its clients.

Faith-based investing has long been a pillar of the Everence investment process for its personal and institutional clients through its Praxis Mutual Funds. In retaining Oakbrook Solutions, it sought a cost-efficient, scalable, and tax-efficient means of deploying the Everence investment process for clients using individual securities as well as funds.

Oakbrook recommended a direct indexing strategy as the underlying technology structure for these enhancements. The firm guided Everence in the development of portfolio management and operational requirements, and led Everence through an extensive due diligence process, evaluating several leading technology and platform providers.

Everence selected a customized asset management platform as its preferred partner and will deploy its capabilities holistically across all mutual fund and ETF portfolios to increase operational efficiency, as well as establish a unified investment workflow regardless of implementation structure. Oakbrook has subsequently been engaged to provide subject matter expertise through the implementation process which is currently underway.

"We were fortunate to have engaged Oakbrook for their help early on in this project," said Bill Hartman, Vice President of Organizational Services. "Oakbrook helped educate us on the myriad of factors we needed to consider in building this program and finding the right partner. Oakbrook's consulting provided significant expertise on the subject and guided our process all along the way. We are grateful for their service to Everence and our team."

"Everence is taking the lead in how wealth management firms respond to the increasing demand for customized investing, particularly when clients are looking for more control over ESG investment criteria," says Steve Randolph, Managing Director for Oakbrook. "They quickly saw the benefits of direct indexing, and when combined with enhanced tax optimization capabilities, are embarking on a major improvement to their competitive solutions. We were pleased to collaborate with them on this important initiative and look forward to helping them realize a successful implementation and rollout."

ABOUT EVERENCE®
Everence helps individuals, organizations and congregations integrate finances with faith through a national team of professionals. Everence offers banking, insurance and financial services with community benefits and stewardship education. To learn more, visit everence.com or call (800) 348-7468.

ABOUT OAKBROOK
Oakbrook is a leading technology consulting and services firm for the Wealth Management industry serving banks and trust companies, RIAs, single and multi-family offices, private banks, retirement plan providers, custodians, and other industry service providers.

Their solutions and services, which solve problems unique to Wealth Management, equip their clients to make better business and technology decisions, deliver high-quality customized client service, boost efficiencies, and reduce risk. They bring decades of direct industry leadership to bear on the issues their clients face in moving their company forward.

Media Contact

Craig Cook, Oakbrook Solutions, 336-714-0321, [email protected]

SOURCE Oakbrook Solutions