State Street Global Advisors has introduced a target-date strategy that combines public and private funds to be used within a retirement savings account.

The State Street Target Retirement IndexPlus Strategy provides access to the public markets through State Street index strategies combined with a diversified portfolio of private market investments through a pooled investment vehicle managed by global asset manager Apollo.

The private funds will provide exposure to private equity, private credit and real assets. Each Target Retirement fund will target an allocation of 90 % to public market exposures and 10 % to private market exposures.

State Street Global Advisors’ Investment Solutions Group will be managing the Target Retirement IndexPlus Strategy. The company said it currently oversees more than $ 200 billion in global target-date assets.

Betterment To Add Portfolio Tools To Advisor Solutions Unit

Robo-advisor Betterment, which offers digital investment services to retail investors and advisors, has acquired Rowboat Advisors, a provider of portfolio management tools, and will integrate the tech into Betterment Advisor Solutions later in 2025. The tools offer capabilities in direct indexing, tax optimization and personalized investing.

New York-based Betterment will also add direct-indexing capabilities next year.

In 2025, the firm will add new enhancements: Expanded single stock support will allow advisors to manage portfolios across a wider range of securities, building on Betterment’ s growing ETF and mutual fund universe. Betterment will also offer tools for more control and transparency, allowing advisors to run sophisticated simulations and use critical data to trade portfolios. New automation and tax management capabilities will let advisors optimize portfolios with enhanced rebalancing, tax-loss harvesting, tax-smart portfolio transitions, asset location and intelligent withdrawals.

Parnassus Launches Actively Managed Mutual Fund

San Fransico-based Parnassus Investments has launched its first actively managed large-cap international equity mutual fund. The Parnassus International Equity Fund incorporates the firm’ s investment philosophy— focusing on companies with durable competitive advantages, relevant products and services, strong management teams, and sustainable business practices.

The fund uses the MSCI EAFE Index as its benchmark, targeting developed markets but allowing up to 15 % in emerging markets. This active portfolio, which is designed to have low turnover, will hold 45 to 55 stocks selected through bottom-up fundamental research.

The fund has two share classes: investor( under the ticker“ PRBRX”) and institutional( whose ticker is“ PFPEX.”)

Corient Partners With Vestmark To Help Advisors With Portfolio Management

Corient, a wealth management firm based in Miami( and a subsidiary of CI Financial), has announced a strategic partnership with software company Vestmark, based in Wakefield, Mass., to take advantage of the latter’ s portfolio management technology.

Using Vestmark’ s technology, Corient will consolidate its investment products onto one platform. It will bring together its portfolio management and trading capabilities across its approximately $ 177 billion in assets.

Vestmark has about $ 1.5 trillion on its platform and supports six of the 10 largest managed account platforms.

Vanilla, Mariner Partner To Provide Estate Planning Tools To Advisors

Estate planning platform Vanilla has partnered with Mariner to deliver its services to the firm’ s more than 700 advisors. Vanilla helps advisors create wills and trusts and organize all estate planning documents into one plan with the assistance of AI.

The firm offers software for client engagement, estate planning, analysis and document creation. Vanilla says it experienced 293 % growth to its platform over last year, and that advisors who have started using the Salt Lake City-based firm’ s services have seen a 200 % increase in revenue.

Mariner, based in Overland Park, Kan., has more than $ 560 billion in assets under management and advisement.

GReminders Integrates With CRMs For Advisors

GReminders, a New York-based meeting and automation management platform for financial advisors, announced a series of integrations with different customer relationship management( CRM) providers. Those providers include XLR8, Quivr, Smart Office, Envestnet Tamarac, and SS & C Salentica.

The new integrations help advisors manage their calendars and meetings, apply client-level data and intelligence and automate nextbest-actions. It will all take place through the CRM systems the advisors traditionally use.

With increasing demands from financial advisors for compliance-friendly tools, the new integrations will help make advisors more efficient in their day-to-day operations, the firm said.

In addition, by using GReminders’ AI-enabled technology, the advisor-focused CRMs will provide enhanced calendar data that advisors can use to automate client emails and create SMS notifications.

14 | FINANCIAL ADVISOR MAGAZINE | JUNE 2025 WWW. FA-MAG. COM