Trust Company of America announced the launch of its new ETF trading platform, ETF Custody Advantage.
The offering provides 60 ETFs from key asset classes — including domestic and international equity, bond, sector, currency and commodities — and include funds from ETF providers Guggenheim Investments and Global X.
To help manage costs, TCA will provide a custody fee offset on all participating ETFs, automatically applied to assets held in the products on the trading platform.
“TCA’s ETF platform will ensure investors receive greater levels of diversification through exposure to a wide array of asset classes,” said TCA’s president and CEO, Joshua Pace, in a statement. “What sets ETF Custody Advantage apart is its transparency, allowing advisors to know exactly what returns their clients are receiving, giving them a greater amount of flexibility. In addition, the tax efficiency and investment options advisors will have through this will be a game-changer.”
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TCA’s ETF Custody Advantage enables advisors to provide their clients with significantly lower expense ratios than most mutual funds and a greater investment flexibility through intraday trading on a regulated exchange.
TCA’s ETF sponsors, Guggenheim Investments and Global X, will provide advisors and their clients with ETF educational resources, including white papers, commentaries, sales ideas and fact sheets. In addition, TCA plans to add to its lineup of ETF providers throughout the year.
JPMorgan Municipal Income Fund Receives ‘Socially Conscious’ Designation From Morningstar
The JPMorgan Municipal Income Fund (OTBAX) has received a “Socially Conscious” designation from Morningstar, making it one of the first in the municipal bond space, according to J.P. Morgan Asset Management.
The fund has an established track record and investment process, and the new categorization formalizes its long-held, sustainable investing practices.
The fund, which has $269 million in AUM and a 24-year track record, is designed to invest the majority of its assets in municipal bonds that provide positive social and environmental benefits.
In order to identify bonds with positive social impacts, portfolio managers, working closely with credit research analysts, have developed a proprietary framework that relies on internal assessment and third-party data to track each bond’s intended use of proceeds. Current income continues to be the fund’s primary focus, and it seeks to produce income in a manner consistent with the preservation of principal.
The fund has a net expense ratio of 0.73%.
FTJ FundChoice Launches SMA Program With Meeder Investment Management
FTJ FundChoice announced the launch of the FTJ FundChoice Separately Managed Accounts (SMA) Program to further enhance their managed account offerings with strategist-tailored solutions for high-net-worth families and individuals.
Designed for portfolios with a minimum of $1 million, FTJ FundChoice’s SMA Program bridges the gap for advisors between their businesses and their high-net-worth clientele with tailored investment solutions.
FTJ FundChoice also announced Meeder Investment Management as the program’s first SMA strategist partner. Meeder’s Private Wealth Management team will construct custom portfolios for FTJ FundChoice advisors built to the needs and objectives of each of their clients designed specifically to minimize taxes and track a client-specified benchmark.
Additional partners are currently in the vetting process and will be added to the program on an ongoing basis.
Allianz Life Adds Accelerated Underwriting and ApplyNOW Technology
Allianz Life Insurance Co. of North America announced the launch of accelerated underwriting and ApplyNOW, new technology available to help streamline the application process for Allianz Life Pro+ Fixed Index Universal Life Insurance policies.
The accelerated underwriting process has fewer underwriting requirements for eligible applicants, resulting in a faster, better underwriting experience. The ApplyNOW digital tool will allow financial professionals to submit Allianz Life Pro+ applications online, resulting in more complete and accurate submissions.