Among the many reasons Schwab Impact is a must attend event each year is the chance to hear where the industry is going. This year, the buzz was definitely around direct indexing and customization. The term “direct indexing” is essentially a new spin on Separately Managed Accounts – a tried and true investment structure. The change in nomenclature reflects that, thanks to new technology, what was once available for just the largest institutional investors can now be delivered efficiently and effectively to relativity small retail investors.