Top Portfolio Products: New MLP Fund From Salient

Covestor to launch no-management-fee ETF portfolios; Redhawk Wealth adds SCANalytics

New products introduced over the last week include a MLP fund from Salient; ETF portfolios without management fees from Covestor; Redhawk Wealth Advisors’ addition of AdvisoryWorld portfolio analytics to its platform; and a cost comparison tool added to Invesco’s DC Plan Analyzer app.

Also, AssetMark added a mobile app; Brown Brothers Harriman was chosen to support Lord Abbett’s UCITS platform; and Allianz Life announced an extension to its index agreement with Barclays.

Here are the latest developments of interest to advisors:

1) Salient Launches MLP Fund

Salient Partners L.P. has announced the launch of the Salient MLP Fund (SAMCX,SCMCX, SIMCX).

The fund seeks to provide a high level of total return and emphasizes making quarterly cash distributions to shareholders. Its strategy entails investing at least 80% of its net assets in equity securities of MLPs.

It may also invest in securities of other energy companies and securities issued by open- and closed-end investment companies, including money market funds, actively managed and index exchange traded funds and exchange traded notes, U.S. government securities, debt securities, cash and/or other cash equivalents.

2) Covestor Introduces ETF Portfolios with No Management Fees

Covestor has announced the launch of Covestor Core Portfolios, which invest in ETFs and do not charge management fees.

The three portfolios are the Covestor Core Moderate Portfolio, which consists of 40% equities and 60% bonds; the Covestor Core Balanced Portfolio, 60% equities and 40% bonds; and the Covestor Core Growth Portfolio, 80% equities and 20% bonds. Within each portfolio, ETFs representing asset classes are selected based on quantitative factors including growth potential, income, stability, inflation hedging, and diversification of risk.

3) Redhawk Wealth Advisors Adds SCANalytics from AdvisoryWorld

Redhawk Wealth Advisors, Inc. has announced the addition of AdvisoryWorld’s SCANalytics portfolio analytics, investment planning and proposal generation application into its advisor platform.

SCANalytics is an intuitive application that features integration with leading portfolio management and CRM applications. Redhawk advisors will have access to integrated sales and service workflows featuring the SCANalytics application with TD Ameritrade Institutional’s Veo, Orion Advisor Services, and Redtail’s CRM. SCANalytics enables advisors to provide clients portfolio research reports and proposals along with model allocation and performance analysis.

4) Invesco Updates DC Plan Analyzer App with Cost Comparison Tool

Invesco announced that it has added a cost comparison tool to its DC Plan Analyzer app for iPad.

The tool, driven by 401kSource.com’s database of 182 product offerings from 64 providers provides plan sponsors a detailed cost comparison analysis. It provides users the ability to see what other plan sponsors are paying for everything in their plan, from investments to recordkeeping to trustee services.

5) AssetMark Adds Mobile App

AssetMark, Inc. has added an iPad app with interactive business development capabilities that allows advisors, regardless of location, to explain the value of using sophisticated asset allocation to manage risk and return tradeoffs. Leveraging insights from the app’s interactive client questionnaire, advisors can produce sample portfolios. The app can also be customized with the advisor’s logo.

As a follow up to their meetings, advisors can use the iPad app to e-mail brochures and sample portfolios to clients. Digital versions of AssetMark’s marketing materials can also be accessed to help advisors explain core investment principles.

6) Brown Brothers Harriman to Support Lord Abbett’s UCITS Platform

Brown Brothers Harriman (BBH) announced that it has been selected to provide full service support, including passive currency administration, for Lord Abbett’s newly launched Irish UCITS platform.

Titled “Passport Portfolios,” the fixed income fund range initially consists of the Lord Abbett Short Duration Income, Lord Abbett Strategic Income and Lord Abbett High Yield funds. The funds will be marketed first in the U.K., Ireland, Netherlands, Denmark, Finland and Norway. Other European markets are expected to follow.

7) Allianz Life, Barclays Extend Index Agreement

Allianz Life Insurance Company of North America has announced that its exclusive Barclays US Dynamic Balance Index agreement with Barclays, which began in August 2013, will extend through 2020. This includes offering the index on Allianz Life Fixed Index Annuity (FIA) and Fixed Index Universal Life (FIUL) products.

The Barclays U.S. Dynamic Balance Index provides balance by shifting weight daily between the S&P 500Index and the Barclays U.S. Aggregate Bond Index based on realized market volatility.

Read the June 15 Portfolio Products Roundup at ThinkAdvisor.

 

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