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Only technically. The overhead to manage this rarely works out for the less than wealthy. Not to mention most non-wealthy people make most of their income as earned income.

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I'm not sure what you mean by "overhead", but direct indexing has been commodified for the masses for a while. See Wealthfront for example. Even Vanguard is pushing into it soon:

https://www.etf.com/sections/features-and-news/vanguard-goin...

Now that said, I agree the benefits of direct indexing for the non-wealthy is vastly overstated and probably a mistake for most.

I do loss harvesting every year in a simple online brokerage account. There is basically no "overhead", especially since many brokerages over extremely low or 0 trading fees these days. This isn't difficult.

And you probably save a negligible amount overall for your trouble.

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