New products and changes introduced over the last week include Strategy Shares, a new firm with two actively managed ETFs; four new ETFs from Nasdaq; and a series of fixed index annuities from Voya Financial.
In addition, Echelon Partners launched an investment banking platform; Capital One launched its Advisor Connect service; and Russell Investments’ RFX Network connected to the Charles River Network.
Here are the latest developments of interest to advisors:
1) Strategy Shares Launches with 2 ETFs
Strategy Shares, previously branded Huntington Strategy Shares, launched a family of funds focused on alternative-based strategies for the ETF market, both active and passive. Its first two ETFs are the EcoLogical Strategy ETF (HECO) and the U.S. Equity Rotation Strategy ETF (HUSE).
HECO focuses on U.S. and foreign companies that have positioned their business to respond to environmental legislation, environmentally conscious consumption and capital investments in environmentally oriented projects. HECO is managed by David Miller and Michael Schoonover, both of Catalyst Funds, and has a net expense ratio of 0.95%.
HUSE invests, under normal conditions, in U.S. companies in the S&P Composite 1500 Index, comprised of large-, mid-, and small-cap companies. It will shift to various market segments based on changing market conditions change and is managed by Matthew Tuttle of Tuttle Tactical Management, with a net expense ratio of 0.95%.
2) Nasdaq Adds 4 ETFs
Nasdaq announced the addition of four ETFs: the BullMark LatAm Select Leaders ETF (BMLA), Global X Longevity Thematic ETF (LNGR), Global X Health & Wellness Thematic ETF (BFIT) and Global X Millennials Thematic ETF (MILN).
BMLA, with a net expense ratio of 0.70%, is a dividend-paying stock ETF that focuses on emerging Latin American companies; LNGR, with a net expense ratio of 0.68%, is a longevity-focused ETF, while BFIT, with a net expense ratio of 0.68%, is a health and wellness ETF. MILN has a net expense ratio of 0.68% and focuses on investing in companies poised to benefit from the growing spending power of U.S. millennials.
3) Voya Financial Adds FIAs
Voya Financial added Voya Quest, a series of fixed indexed annuities, to its retirement solutions.
The Voya Quest series of annuities includes the Voya Quest 5 Index Annuity, Voya Quest 7 Index Annuity and Voya Quest Plus Index Annuity. These products are issued by Voya Insurance and Annuity Company, a member of the Voya Financial family of companies.
4) Echelon Partners Launches Investment Banking Platform
Echelon Partners formally launched its investment banking platform for the wealth technology sector.
The WealthTECH investment banking platform will cater to the segment of technology firms that serve the wealth management industry with a proprietary mapping system that segments the wealth management technology ecosystem of over 1,000 companies into 6 WealthTECH sectors and 42 subsectors.
5) Capital One Launches Advisor Connect
Capital One launched its Advisor Connect service, which provides phone-based investing advice to customers in all 50 states. Investors can call at their own convenience and make appointments online.
Clients have access to Capital One Advisors Managed Portfolios, a digitally powered advice solution providing investing technology, including automated monitoring and rebalancing, with professional oversight. Each portfolio is comprised of low-cost, third-party ETFs (not proprietary funds).
6) Russell Investments’ RFX Network Connects to Charles River Network
Russell Investments’ RFX Network is now a certified endpoint on the Charles River Network Service. RFX Network allows buy-side firms to automate execution of complex trade lists with an advanced solution that combines internal netting within an investor’s trading portfolio with external matching among the larger buy-side community.
The Charles River Network supports electronic trading via the FIX messaging protocol to over 600 global liquidity venues including brokers, multibroker trading venues, crossing networks, broker algorithms, program desks, dark pools, smart order routers, ECNs and ATSs.