New products and changes introduced over the last week include a new type of target date funds from Northern Trust, the Fidelity Health Marketplace and a new commission structure from Franklin Square that results in lower fees. Also, Beaumont Capital launched a series of ETF-based retirement funds.
Here are the latest developments of interest to advisors:
1) Northern Trust Adds Life Engineered Funds
Northern Trust has launched Life Engineered Funds, which the firm describes as a re-engineering of the target date fund. The funds, which combine Northern Trust’s factor-based Engineered Equity strategies with PIMCO’s active fixed income and inflation-sensitive strategies, are collective trust funds maintained by Northern Trust Investments as trustee.
Life Engineered Funds are available to defined contribution retirement plan sponsors in 12 collective trust funds, designed for participants who are retired or are planning to retire between now and 2060. Each fund includes a combination of three distinct strategies: growth, income and inflation-sensitive.
2) Fidelity Adds Fidelity Health Marketplace
Fidelity Investments launched the Fidelity Health Marketplace, which provides access to health and wellness benefits to small- and mid-sized businesses and their employees.
Employers can choose from a network of national and regional medical, dental, vision and life benefits in addition to tax-savings options and access to wellness tools and programs for their employees.