Developed to help customers better understand and customize their tax lot closing methods, the Tax Optimizer will also enable them to enumerate their capital gain and loss allocations in an efficient way.
ConvergEx Prime Services chief executive officer Douglas M Nelson said, "While the 2013 tax reporting season may seem like a far off event, customers would be wise to begin planning for it now so they are fully prepared come next April."
In addition to providing ability for customers to run what-if scenarios to see how different closing methods might affect their tax liability, the tool enables customers to maximize their net returns by minimizing tax liability.
The solution will also allow customers to choose the most efficient closing methods for their specific funds by providing details of the variances in the closing methods through a comparative gain loss report.
