New products and changes introduced over the last week include an ex-coal index series from FTSE Russell; a quarterly property index from EDHEC IEIF; and Ivy Funds is partnering with Apollo Credit Management to launch two funds.
Also, LPL announced a number of product and service changes; World Equity Group announced formal agreements for several advisor tools; and John Hancock Retirement Plan Services announced the addition of Morningstar’s HelloWallet tool.
Here are the latest developments of interest to advisors:
1) Ivy Funds, Apollo Credit to Launch Income Funds
Ivy Investment Management Company has announced that it plans to launch two funds together with Apollo Credit Management. Once the Ivy Apollo Strategic Income Fund and the Ivy Apollo Multi-Asset Income Fund are approved, they’re scheduled to become available in October.
The Ivy Apollo Strategic Income Fund will include sleeves intended to replicate the Ivy High-Income Fund strategy and the Ivy Global Bond Fund strategy, with flexible allocations to each of those strategies of between 10–70% of the fund’s total assets. In addition, there will be a 20% target allocation (static) to a sleeve managed by Apollo consistent with its Apollo Total Return strategy.
The Ivy Apollo Multi-Asset Income Fund is expected to have a 50% allocation to fixed income and a 50% allocation to equities. It will include sleeves consistent with the Apollo total return strategy (20% of the fund), Ivy high income strategy (30%), Ivy global equity income strategy (40%) and Ivy global real estate strategy (10%), which is sub-advised by LaSalle Investment Management Securities.
2) LPL Announces Additions, Changes
LPL Financial LLC has announced a number of additions and changes, both present and planned, to products and services.
The vendor affinity program, accessible through LPL’s resource center, is an initiative designed to help advisors reduce the complexity and costs of running their businesses. The program consists of a centralized repository of vendors that have agreed to provide their products and services to LPL advisors at discounted prices.
Offerings in the works include a robo-enabled solution, expected to pilot in 2016; fee reductions for centrally managed advisory platforms, also debuting in 2016; practice management consulting availability to a wider group of clients; and additional developments in its ClientWorks platform.
3) World Equity Group Adds Advisor Tools
World Equity Group has announced formal relationships with financial marketing organization United Advisors, automated marketing platform MarketingPro and public relations firm Impact Communications to provide tools to advisors on its platform.