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Top Portfolio Products: Envestnet Launches DOL Compliance Solution

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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%.

FTSD has the same goals as FLCO but invests at least 80% of its net assets in securities issued or guaranteed by the U.S. government, its agencies or instrumentalities. Its net expense ratio is 0.30%.

3) Hartford Funds Adds Real Estate ETF

Hartford Funds launched a U.S.-focused real estate investment trust ETF, the Lattice Real Estate Strategy ETF (RORE).

RORE invests aims for performance, before fees and expenses, that corresponds to the total return performance of the Lattice Risk-Optimized Real Estate Strategy Index (LROREX), which tracks publicly traded REITs. Its net expense ratio is 0.45%.

4) Direxion Changing Indexes for Three ETFs

Direxion is changing the benchmark indexes for two leveraged ETFs and one leveraged inverse ETF, effective December 1.

The current index for both the Direxion Daily Regional Banks Bull 3X Shares ETF (DPST) and the Direxion Daily Regional Banks Bear 3X Shares ETF (WDRW) is the Solactive US Regional Bank Index; that will change to the S&P Regional Banks Select Industry Index.

The index for the Direxion Daily Retail Bull 3X Shares (RETL), currently the Russell 1000 Retail Index, will change to the S&P Retail Select Industry Index.

Read the October 3 Portfolio Products Roundup at ThinkAdvisor.


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