New products and changes introduced over the last week include an ETF filing from TrimTabs Asset Management; enhancements to Advizr’s online planning platform; and a tax management platform from Scivantage.
In addition, Hartford Funds launched a new program for advisors concerning client needs; Totum Wealth partnered with Quovo on a client account aggregation platform; VanEck cut the expense ratio of an ETF; and First Foundation announced its inclusion in the Russell 2000 Index.
Here are the latest developments of interest to advisors:
1) TrimTabs Files for Fund Clone
TrimTabs Asset Management (TTAM) filed for a new float shrink ETF to replace the AdvisorShares TrimTabs ETF (TTFS), which was managed by TTAM but as of July 1 will be managed by Wilshire and renamed the AdvisorShares Wilshire Buyback Fund.
In its filing, TTAM indicated that the proposed TrimTabs fund will select its components from the Russell 3000 based on how much they have seen their leverage and free float shrink and their free cash flow grow during the preceding 120-day period.
2) Advizr Adds Enhancements to Online Planning Platform
Advizr added five enhancements to its online financial planning platform. They include the Advizr Interactive Smart Model, which produces a first-cut financial plan once the client has completed data discovery; the Advizr Document Vault, accessible to both clients and advisors, which lets clients upload documents such as wills, estate planning documents and financial statements through the client portal; and the Advizr Debt Optimizer, allowing clients and advisors to track student, auto or installment loans, prioritizing them based on interest rates or balances, and including them in an overall financial plan.
Other enhancements are the Advizr Client Dashboard, which tracks client’s goals progress and includes live net worth and cash flow statements, and the Advizr Presenter, which allows advisors to present a self-branded financial plan.
3) Scivantage Launches Tax Management Program
Financial technology provider Scivantage launched Sqope Tax, a tax management platform that provides firms with an array of tax analysis and optimization tools.
Designed to help retail investors and advisors gain greater insight and control over the tax impact of investment portfolios, Sqope Tax also assists in retaining assets by minimizing tax liabilities, helping to prevent “leakage” of assets under management due to outflows needed to meet excessive tax payments.
4) Hartford Funds Launches Client Needs Program
Hartford Funds launched the Human-Centric Insights Panel, a program to provide advisors with insights on how to strengthen client relationships. Panelists from various areas of expertise provide takeaways for advisors in advice to help them better serve their clients.
The initial set of panelists includes Dr. Kristy Archuleta, on couples issues; Dr. Vicki Bogan, n investor behavior; Dr. Barbara Nusbaum, on behavior and emotions related to money; and Tim Sanders, who focuses on advisor perception. Additional panelists may be added in the future.
5) Totum Wealth Partners with Quovo
Totum Wealth has partnered with Quovo to provide financial advisors with a client account aggregation platform.
Advisors on the Totum platform are able to access custodial feed data via Quovo and then build customized investment portfolios with Totum’s holistic risk profiling that analyzes each client’s unique human capital factors, including health, career, geography, financial strength, family and industry.
6) VanEck Lowers Expense Ratio for ETF
VanEck has lowered the expense ratio for the VanEck Vectors Fallen Angel High-Yield Bond ETF (ANGL). As of June 20, the expense cap for ANGL is 0.35%, down from 0.40%.
7) First Foundation to Join Russell 2000
Financial services company First Foundation (FFWM) announced that it has been selected by FTSE Russell to join the Russell 2000 Index. First Foundation provides integrated investment management, wealth planning, consulting, insurance, trust and banking services.