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Top Portfolio Products: AssetMark, Fi360’s New Tools to Help Advisors With DOL Rule

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Two new products to help advisors prepare for the DOL fiduciary rule debuted last week.

AssetMark, which provides investment, relationship and practice management solutions for advisors, introduced its DOL assessment tool that evaluates advisor’s compensation structure and compliance readiness for the new rule through a series of strategic questions.

The questions are divided into three sections: understanding of the new rule, advisors’ business structure and compensation – total assets, types of accounts, and commission and noncommission products – and their plans for compliance and documentation.

After answering the questions, advisors’ readiness will be rated for each section as not prepared, somewhat prepared and well prepared. The asssessment tool is a component of AssetMark’s DOL Readiness Campaign.

To comply with the new rule Fi360 launched its Fiduciary Focus Toolkit software, which enables advisors to automate workflows and oversee fiduciary best practices.

The toolkit automates and centralizes investment policy statements, account planning, monitoring and documentation to align with fiduciary best practices. Its scalability has the potential for advisors and support staff to manage more business without adding additional staff, according to Fi360. The company recently launched an online training program Fiduciary Essentials for Advisors, developed in partnership with attorney Fred Reisch, of Drinker Biddle.

Vestmark Unveils Robo-Advice Platform

Vestmark announced its VestmarkONE Robo Solution, which will now be available as a turnkey offering for broker-dealers, registered investment advisors, asset managers, banks and bank trust departments. The VestmarkONE Robo Solution allows for a blend of human and automated advice delivery.

Envestnet | Tamarac Now Offers Goals-Based Reporting

Envestnet | Tamarac rolled out a two-way integration with MoneyGuidePro, according to a recent announcement. The integration allows advisors and their clients to utilize MoneyGuidePro’s goals-based reporting through Envestnet’s Advisor View application and its client portal.

Elkhorn Launches Next Gen Low-Vol Rotation ETF

Elkhorn Investments, LLC launched the Elkhorn Lunt Low Vol/High Beta Tactical ETF (LVHB), a next generation, low-volatility rotation ETF. In addition, Soltis Investment Advisors, a Utah-based RIA, has committed to an initial investment of $50 million in LVHB to enhance its U.S. equity strategy.

RBC to Offer New ETF Model Portfolios From SSGA

Clients of RBC Correspondent Services will soon have access to a new suite of cost-effective and technology-enabled ETF models that are designed and maintained by State Street Global Advisors (SSGA). The new ETFs will be delivered through NextCapital’s open-architecture digital advice platform.

CBOE Vest Launches Defined Distribution Mutual Fund

CBOE Vest, an investment manager focused on Target Outcome Investment strategies, launched its first defined distribution mutual fund, the CBOE Vest Defined Distribution Strategy Fund (VDDIX). The new fund targets consistent monthly distributions of 5.25% over one-month Treasury yields, is uncorrelated to fixed income markets, and is neutral to equity markets’ performance.

Ivy Launches Its First Three Exchange-Traded Managed Funds

Ivy Investment Management Co. introduced its first three Ivy NextShares as part of a planned lineup of NextShares exchange-traded managed funds. The new funds include: Ivy Energy NextShares (IVENC), which invests at least 80% of its net assets in securities of companies within all aspects of the energy sector; Ivy Focused Growth NextShares (IVFGC), which invests primarily in a portfolio of common stocks issued by large capitalization; and Ivy Focused Value NextShares (IVFVC), which invests primarily in the common stocks of companies that the manager believes are undervalued.

— Read the October 17 top portfolio products roundup.


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