Alphathena

Alphathena is a web-based, AI-enhanced direct indexing platform for financial advisors, RIAs, broker-dealers, TAMPs, and OCIOs to deliver personalized, tax-optimized portfolios at scale.

Key capabilities include:

• AI-driven tax-loss harvesting with wash sale avoidance and dual-direction optimization to improve after-tax outcomes while tracking a chosen benchmark.
• Automated rebalancing and multi-account management, supporting ongoing index lifecycle management and portfolio transitions.
• Direct indexing customization at the account level, including ESG exclusions, custom factor and theme tilts (for example, clean energy or low volatility), and control over investment choices beyond ETFs or mutual funds.
• Long/short leveraged direct indexing strategies (for example, 110/10, 120/20, 130/30, 140/40), with portfolio construction, borrow cost management, and risk controls.

Pricing: Unknown.

Notable for combining custodian integrations (including Schwab, Fidelity, and Interactive Brokers) with an API-driven workflow and detailed performance and tax reporting, while keeping advisors in control without relying on third-party portfolio managers. It has been recognized with industry awards, including a 2025 WealthManagement.com Industry Award for Direct Indexing and “Fintech of the Year” recognition at Morningstar’s 2023 Investor Conference.