Veriti rebrands as First Trust Direct Indexing

WHEATON - Veriti Management LLC, a direct indexing asset technology company, Tuesday said it has been renamed First Trust Direct Indexing, and has appointed Robert Hughes as chief executive officer.

Hughes takes the reins from Veriti co-founder and managing partner James Dilworth. Hughes will focus on integrating Veriti's established direct indexing capabilities and resources with First Trust's extensive network of distributors.

Over its 30-year history, Wheaton-based First Trust has worked alongside financial professionals to provide tools, resources and trusted investment products, many of which are designed to minimize the effect taxes have on a portfolio. In July, First Trust acquired Veriti Management, a direct indexing asset technology company that delivers customized investment solutions with more opportunity for tax-efficiency and values-based personalization.

"I'm excited to be joining at a pivotal time in the industry," Hughes said. "The elite team at First Trust Direct Indexing has developed a simple and powerful delivery tool for (financial) advisers, while also creating personalized solutions to help them meet clients where they're at in terms of values, needs and goals."