Press Room
Compass Bank completes conversion of all equity assets to SmartPath system, powered by Smartleaf
Cambridge, MA. August 4, 2005—Smartleaf, Inc. has announced that Compass Bank has completed the full conversion of its entire portfolio of equity assets to the Compass SmartPath program, which is powered by Smartleaf’s technology.
In October 2004, Compass Bank selected Smartleaf to help the bank deliver a ‘next generation’ investment option to its clients, providing highly personalized, tax-optimized managed account portfolios utilizing in-house and/or third party investment managers.
Todd Smurl, executive vice president and managing director of portfolio management at Compass Bank, explained, “Smartleaf has fulfilled our expectations by enabling Compass Bank to achieve our vision of delivering clients an open-architecture, unified managed account program that is more cost effective, more personalized, and more tax efficient than anything previously available. The full conversion of the bank’s entire investment portfolio represents the fact that this is not an ancillary program for Compass—it has become the core of our investment offering.”
Smartleaf, founded in 1999, provides ASP-based technology for financial institutions managing individual investor accounts. Smartleaf's offering, Smartleaf Portfolio Manager, allows firms to manage, in a highly customized fashion, thousands of individual accounts with unprecedented tax and operational efficiency. Utilizing in-house or third party model portfolios, Smartleaf Portfolio Manager generates, on a daily basis, actionable tax-lot trade recommendations for each individual portfolio. These recommendations are automatically pre-trade compliant and tax, risk and expense sensitive.