Maximizing Asset Allocation Implementation

Emily is an investment analyst who is tasked with the implementation of a new asset allocation strategy for a family of portfolios. The portfolios have varying risk profiles but are all aligned with the overall long-term financial goals of the family. Emily needs to determine the optimal implementation method for each portfolio based on constraints such as liquidity, tax implications, and market conditions.

Which of the following methods of asset allocation implementation is most likely to maximize the portfolios' adherence to their targeted risk and return profiles while also considering the imposed constraints?