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October 10, 2016 at 10:08 PM
New products and changes introduced over the last week include a DOL compliance solution from Envestnet, three ETFs from Franklin Templeton Investments and a real estate ETF from Hartford Funds.
In addition, Direxion announced it will change the benchmarked indexes for three of its funds.
1) Envestnet Adds DOL Fiduciary Rule Solutions
Envestnet launched technology solutions and consulting services to assist advisors and enterprises in complying with the Department of Labor’s fiduciary rule, which takes effect April 10, 2017.
The compliance solutions include a best interest assessment, product development of compliant investment portfolios and programs, account documents and disclosures and enterprise business intelligence solutions. They are designed to help ensure advisors complywith the rule as part of a “seamless wealth management process,” according to Envestnet.
“These latest enhancements to our platform and service offering help advisors and enterprises spend more time servicing clients and delivering better outcomes, with the added peace of mind that they are in compliance with changing regulations,” said Executive Vice President James Lumberg. More information is available at Envestnet’s DOL Solutions.
2) Franklin Templeton Adds ETFs
Franklin Templeton added a suite of actively managed ETFs: the Franklin Liberty U.S. Low Volatility ETF (FLLV) and Franklin Liberty Investment Grade Corporate ETF (FLCO), which are both new, and the Franklin Liberty Short Duration U.S. Government ETF (FTSD), also part of the suite, was launched in 2013.
FLLV invests for capital appreciation with an emphasis on lower volatility than the broader U.S. equity market, as measured by the Russell 1000 Index; its net expense ratio is 0.50%.
FLCO focuses on providing a high level of current income, consistent with prudent investing, and preservation of capital by investing at least 80% of net assets in investment grade corporate debt securities and investments. Its net expense ratio is 0.40%.
