Have you heard the terms "direct indexing", "custom indexing" or "factor-based investing"? This approach to investing is gaining popularity due to its ability to build allocations that are customized to an investor's unique preferences and constraints, and its ability to harvest tax losses. Interested in learning how it works and if it could be a good fit in your portfolio? Let us break it down for you!    In this episode of Off the Wall, host David Armstrong and guest-host Erin Hay welcome Patrick McStay, Relationship Management Specialist and Associate Director in Client Sales/Service at O'Shaughnessy Asset Management (OSAM). OSAM is the creator of Canvas™, a portfolio management software solution that allows advisors and allocators to create customized investment portfolios at scale.    You'll also learn about the Monument Wealth Management TRIO™ (Tax Rebalanced Index Optimized) Portfolio, which is powered by Canvas™.     "People are more and more accustomed to having customized solutions for more and more aspects of their lives… I think their investment portfolio is no different and as technology continues to grow and enable different aspects, I think that more and more clients will demand some sort of customization to be engrained into their investment portfolio." – Pat McStay     Episode Timeline/Key Highlights:  [00:50] Introducing Patrick McStay & the topic of today's episode.  [02:13] What is Canvas? & How our TRIO Portfolio uses Canvas.  [07:56] What is direct indexing and how is it used in portfolio management?   [12:19] What are stock factors?   [14:24] How factor-based investing works.  [17:04] Benefits, opportunities, and limitations of these portfolio management strategies and using the Canvas™ platform.  [26:02] Why the future of investing is customized & The history and inspiration behind Canvas.  [31:28] TRIO strategies we use to manage wealth & Our thoughts on ESG stocks.  [35:50] Advice on how to be more responsible with your investing without relying on ESG investing.  [41:20] New and exciting developments are coming for Canvas!    Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures      Resources Mentioned:  Learn more about OSAM: http://bit.ly/3lghnjo  Learn more about Canvas: https://canvas.osam.com   Listen to the Invest Like the Best with Patrick O'Shaughnessy Podcast: http://bit.ly/3DObdgG     About Patrick McStay:  Patrick McStay is a Relationship Management Specialist and Associate Director in Client Sales/Service at O'Shaughnessy Asset Management (OSAM). Prior to joining OSAM, Patrick worked at Morgan Stanley in their Wealth Management practice. He previously held positions at Beck Mack and Oliver, LLC and Royal Bank of Scotland. Patrick holds a Bachelor of Science in Business Administration and Management from Providence College.     Connect with Patrick:  Connect with him on LinkedIn: https://www.linkedin.com/in/patrickmcstay      Connect with Monument Wealth Management:  Visit our website: https://bit.ly/monumentwealthwebsite   Follow us on Instagram: https://bit.ly/MonumentWealthIG   Follow us on Twitter: https://bit.ly/MonumentWealthTW   Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI   Connect with us on Facebook: https://bit.ly/MonumentWealthFB      About "Off the Wall":  Off the Wall is a podcast aimed at helping you answer the questions: What is the point of my wealth, and what actions can I take to accomplish that purpose? Your answers to those questions will be different from everyone else's. As Wealth Managers, we're skilled at helping our clients think through these challenging, but important, questions.       Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com. 

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