// THREE PHASE TAX TRANSITION™

The Global Trading System™ drives M3’s fresh solution for maximizing tax-adjusted returns during portfolio transitions: The Three Phase Tax Transition™.

Most separate account managers and overlay managers execute essentially a two phase transition, which misses opportunities to capture tax alpha. In phase one, most managers typically liquidate the existing portfolio, largely ignoring tax implications and transaction costs. Phase two relegates tax management to year-end tax-loss harvesting at the advisor’s request.

M3 has developed a Three Phase Tax Transition™ that always factors in the investor’s tax tolerance, transaction costs, and correlation of stocks in the existing portfolio to those in the target model. Click links below for more on each phase.