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Top Portfolio Products: New Tools to Compare Funds and ETFs

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New products and changes introduced over the last week include the  Investment Test Drive from FeeX, nd a fund evaluator tool from Capital One Investing and two leveraged funds from Direxion. In addition, Advyzon integrated Laser App Software into its client dashboard, Saxon Securities teamed with Envestnet and Envestnet|Tamarac updated its client portal.

Here are the latest developments of interest to advisors:

1) FeeX Launches Investment Test Drive

FeeX launched its Investment Test Drive, which compares a fund to similar but lower-cost funds, if they exist. The tool employs the FeeX Similarity Score, which identifies better potential investment choices and estimates the cost savings of switching to another fund.

To help users research alternatives, FeeX presents other similar investments with the lowest fees and best past returns.  FeeX ranks each investment on a scale of similarity from zero to 100%; funds with a similarity ranking of 85% and higher are displayed as similar funds for the user to consider.  

Users can initiate the search or sign up to have all their accounts automatically and objectively analyzed to find lower-fee investment options.

2) Capital One Investing Launches Fund Evaluator Tool

Capital One Investing introduced its Fund Evaluator tool, which allows users to access and review mutual fund and ETF data, compare funds and ETFs based on key criteria and identify comparable alternatives that align with an individual’s financial goals. Data include historical performance and expense ratios compared to a category averages plus Morningstar ratings.

The digital tool is free and available to all self-directed investors.

3)  Direxion Adds Two Funds

Direxion launched the Direxion Monthly NASDAQ-100 Bull 1.25X Fund (DXNLX) and the Direxion Monthly NASDAQ-100 Bear 1.25X Fund (DXNSX). DXNLX seeks to achieve 125% of the monthly performance of the NASDAQ-100 before fees and expenses. DXNSX seeks 125% of the inverse of that, before fees and expenses.

4) Advyzon Integrates with Laser App Software

Cloud-based platform Advyzon, which combines portfolio management, performance reporting, customer relationship management, client portal and planning added Laser App Software to its client dashboard.

Laser App provides forms automation and management software for the securities and insurance industries. Its software is used by financial advisors and broker/dealers to help build a secure and digital repository.

5) Saxon Securities Teams with Envestnet

Saxon Securities teamed with Envestnet to offer its Federal Deposit Insurance Corp.-insured brokered CD portfolios on the Envestnet platform. The Saxon Securities product is usually accessed only by larger institutions. It offers a managed service that provides yields with FDIC protection for the underlying CDs.

6) Envestnet Tamarac Adds Software Updates

EnvestnetTamarac launched software updates for its AdvisorView client portal.

They include a new household structure, which allows clients to view and keep track of all accounts in a single household according to each household member’s goals and reporting preferences, new service team functionality and a redesigned user interface.

Read the March 28 Portfolio Products Roundup at ThinkAdvisor.


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