PMC, the investment management arm of Envestnet, announced the launch of a new tax overlay service Thursday that will allow advisers to minimize tax liabilities on their clients’ portfolios.

The PMC Tax Management Service, designed to help advisers unlock frozen assets, prospect new business and attract held away assets, takes advantage of today’s market volatility in two ways: It seizes upon the volatility to either chip away at investors’ capital gains tax bills or to stockpile tax losses that can be used to offset future gains.

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