The Bank of New York Mellon Corporation announced the launch of customized tax solutions and the expansion of its direct indexing suite, BNY Mellon Precision Direct IndexingSM. This evolution will allow advisors to select a strategy that best aligns with their clients' investment goals and objectives. Managed by Mellon, a global leader in index management with over 40 years of institutional expertise, tax transition management and tax overlay management will also be offered alongside the expanded direct indexing suite.

With the addition of customized tax solutions, advisors will have the ability to migrate a portfolio from one exposure to another through tax transition management, which considers time horizon, tax budget, desired tracking error and composite assets. Additionally, ongoing tax overlay management can be applied around a customized set of assets, including models and customized portfolios. In addition to BNY Mellon Precision Direct IndexingSM S&P 500®, advisors will also be able to access another five strategies within the direct indexing suite, which include: BNY Mellon Precision Direct IndexingSM US Core 500; BNY Mellon Precision Direct IndexingSM US Total Market; BNY Mellon Precision Direct IndexingSM US Large Cap Growth; BNY Mellon Precision Direct IndexingSM US Large Cap Value; BNY Mellon Precision Direct IndexingSM International Developed Core.