Compare Alphathena vs. Aperio
Looking for true portfolio personalization without outsourcing control? While Aperio offers fully customized SMAs through a high-touch, high-minimum approach, Alphathena empowers financial professionals to take the reins with scalable, AI-driven direct indexing.
Our platform enables deeper customization, seamless transitions, and dynamic tax optimization—without handing over control to a third-party sub-advisor. For firms seeking precision, speed, and autonomy, Alphathena delivers.
What Sets Us Apart?
Alphathena is a pure technology solution designed for financial professionals who want to deliver personalized portfolios at scale—without the friction of third-party management. You maintain control, customization, and transparency.
Aperio, by contrast, operates as a sub-advisor within BlackRock, offering deep customization through a high-touch service model—best suited for ultra-high-net-worth clients but less flexible for the broader market.
What Our Clients Say
10 reasons Why Alphathena Is the Best Aperio Alternative for Financial Professionals
1.Broader Accessibility
Alphathena has no minimum investment requirements, making direct indexing available to all clients. Aperio typically requires higher minimums, limiting accessibility to only high-net-worth investors.
2.Advisor-Controlled Portfolio Construction
With Alphathena, you maintain full control of client portfolios. Aperio assumes discretionary control as a sub-advisor, reducing your hands-on involvement.
3.Scalable Customization
Alphathena supports 40+ customizable indexes, including ESG and thematic options across 1,200+ ETFs and indexes. Aperio offers deep personalization but through a human-led process that doesn’t scale as efficiently.
4.Real-Time, Intelligent Tax-Loss Harvesting
Alphathena harvests tax losses in real time across accounts and households, using AI to optimize for market conditions and wash sale rules. Aperio uses a rule-based system that typically operates on a monthly cadence.
5.Integrated Optimization Engine
Alphathena’s in-house optimizer enables on-platform, multi-scenario modeling with custom constraints. Aperio outsources optimization to Barra, layering customizations externally and requiring liquidation of incompatible assets.
6.Legacy Asset Flexibility
Alphathena supports seamless integration of existing securities, including mutual funds, and enables advisors to model transition scenarios. Aperio often requires legacy assets to be sold before applying its optimization process.
7.White-Labeled Advisor Experience
Alphathena fully white-labels its user interface so your firm’s brand leads the client experience. Aperio does not provide a customizable platform interface for advisors.
8.API-First Platform Design
Alphathena’s API-driven architecture allows effortless integration into your tech stack. Aperio is built as a service, not a software platform, and offers fewer integration options.
9.AI-Powered Workflow Efficiency
Alphathena uses AI to automate portfolio construction, rebalancing, and tax strategies—saving time and reducing manual workload. Aperio’s approach relies heavily on human management.
10.Proven Innovation and Recognition
Alphathena is a winner of the 2023 Morningstar Fintech Showcase and a two-time finalist in WealthManagement.com’s AI and Direct Indexing categories. Aperio, under BlackRock, offers institutional scale but relies on legacy infrastructure and service models.
What Our Clients Say
The complete direct indexing solution you’ve been looking for
Alphathena gives you everything you need to manage portfolios efficiently, strategically, and with precision, all while providing the ultimate flexibility to adapt to the evolving needs of your clients, including:
Model Portfolio Flexibility
Tailor portfolios to fit your clients’ specific needs by uploading and blending custom models. Whether it's asset allocation, risk preferences, or specific goals, Alphathena lets you personalize portfolios and rebalance toward your desired models, giving you complete control over your investment strategies.
Seamless Legacy Portfolio Management
Smoothly integrate existing mutual funds and other assets into your new direct indexing strategy without the hassle of liquidation. Alphathena allows you to assess the tax and risk implications of each move across different scenarios so you can make fully informed, tax-efficient decisions, preserving more of your clients’ wealth.
Custodian-Agnostic Integration
Alphathena works with any custodian, allowing you to retain complete control over your clients' assets. This flexibility ensures you’re not locked into a specific provider, offering the freedom to integrate your preferred custodians and keep your workflows streamlined.
Advanced Optimization Tools
Our platform's powerful optimization engine enables you to balance personalization with benchmark performance, aligning portfolios with each client’s unique financial goals. Whether you're optimizing for risk, return, or tax efficiency, Alphathena’s tools give you the capability to deliver optimal outcomes at scale.
Realtime Tax Loss Harvesting
Tax-loss harvesting shouldn't be confined to rigid schedules. With Alphathena, you can rebalance and harvest losses as market conditions evolve, ensuring you're capturing opportunities in real time. Additionally, the platform accounts for wash sales, protecting your clients' tax strategy and maximizing savings.
End-to-End Lifecycle Management
From portfolio design and investment to ongoing rebalancing and tax-loss harvesting, Alphathena offers a complete, integrated solution for managing portfolios throughout their entire lifecycle. With every stage covered, you can focus on delivering personalized advice and ensuring your clients’ financial success without the burden of manual processes.
Recognitions & Achievements
🏆 Winner: 2023 Morningstar Fintech Showcase
“Alphathena, with its elegant platform and powerful engine, is an example of a growing field of innovators that have learned to harness frontier technologies to deliver better outcomes for investors.”
Lawrence Johnson
Head of Emerging Fintech at Morningstar
WealthMgmt Finalist for Artificial Intelligence and Direct Indexing - 2023, 2024
“Wealthies” is the only awards program of its kind to celebrate the companies, individuals and organizations who are bringing new innovations to market that make a real difference to the daily activities of financial advisors.
ThinkAdvisor Luminaries Finalist in the Financial Planning Firm Award - Innovation category!
The ThinkAdvisor Luminaries Awards honors outstanding individuals and firms in the financial services industry. Recognizing excellence beyond traditional metrics, such as asset growth or product enhancements, the Awards focus on exemplary leadership, groundbreaking innovation, and outstanding community impact by both firms and individuals.
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We recently helped transition a $10M portfolio with $2M in embedded gains, keeping realized gains under the client’s annual $100K threshold while maintaining market exposure.
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