Freemium wealth management platform provider Oranj announced it has added another asset manager to its platform, IDX Advisors.
This addition brings the total number of asset managers and subadvisors on the Oranj platform to 23.
IDX, a self-described investment research and index development firm, creates customizable direct indexing solutions for advisors. The ability to create direct indexes has been touted as the next frontier of investing in the advisory industry for several years now, thanks to flexibility and their promise of full customization for client needs or wants, lowering costs, delivering transparency and tax-management features. According to the statement, IDX uses rules-based indexes that attempt to access the freely available beta across multiple asset classes.