Alphathena

Q&A

What is direct indexing, and how is it different from a traditional index fund or ETF?

Direct indexing means an investor owns the individual securities that make up an index directly in their own account, rather than owning shares of a fund that tracks the index. Because the holdings sit in the client's account, an advisor can harvest losses at the individual stock level, exclude specific names, and adjust weights, none of which is possible inside a pooled ETF or mutual fund.

Does the advisor retain discretion, or is this a fully outsourced model?

The advisor retains full discretion on creating a model, trading, and constraints.

How long does onboarding take?

Typically, onboarding takes a week to get the data from the custodian. Depending on your firm's complexity, you could be live within one week of completing onboarding, as Alphathena does not require a custodian switch or a lengthy data migration.

What does agentic AI mean in portfolio management?

Agentic AI refers to systems that reason through complex situations and formulate plans for the advisor to then act on. In portfolio management, an agentic system can analyze an account's holdings, evaluate its tax position, identify binding constraints, and generate multiple implementable scenarios with full explanations, without a Portfolio Manager manually configuring every parameter.

Is there a setup fee?

No setup fee. The annual platform minimum covers onboarding, integrations, and platform access from day one.