Unlike ETFs, SMAs allow direct ownership of assets, giving investors more flexibility to customize their portfolio to meet their specific risk/return needs objectives. This means that SMAs are customized by investment managers to meet your unique requirements, including risk tolerance, investment time horizon, and financial goals. Direct ownership also allows for more transparent and straightforward tax management strategies, including tax loss harvesting. Finally, SMAs are vault-agnostic, allowing investors to choose from a wide variety of vaults and exchanges, including Anchorage, BitGo, Coinbase, and Kraken.
