Syntax, TradePMR Collaborate to Provide FAs with Custom Portfolios
TradePMR, the brokerage and custodian for registered investment advisors that Robinhood Markets snapped up in a $300 million cash-and-stock deal last November, has teamed with Syntax Data, a direct indexing tech provider, to roll out a new offering for financial advisors.
The partnership will provide financial advisors on Trade PMR’s platform with access to Syntax’s custom index and portfolio construction tools. This offering allows advisors to set up, manage, and market customized portfolios at scale, while also providing “a lower total cost than is currently available in the market,” according to Syntax CEO Patrick Shaddow.
Last month, Syntax locked in a deal with FTSE Russell—part of the London Stock Exchange Group—to weave FTSE’s lineup of indices into Syntax’s platform. That move, per Syntax, lets advisors tap into a broader, globally recognized index pool for their custom direct indexing strategies. The TradePMR partnership follows a similar strategy to what Syntax pulled off with Advyzon last year.
