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Impact Shares & YWCA Partner to Launch Women's Empowerment ETF: Portfolio Products

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Nonprofit ETF sponsor Impact Shares partnered with YWCA to launch a new exchange-traded fund that allows investors to deploy capital in companies that have aligned their business practices with gender-equality standards.

“We believe this is an important step in the evolution of women’s advocacy,” Ethan Powell, CEO of Impact Shares, said in a statement. “YWCA has established themselves as the leading women’s organization and the ETF provides them with the tools needed to expand their impact into the private sector and help companies demonstrate leadership on issues impacting women.”

The Impact Shares YWCA Women’s Empowerment ETF (WOMN) is designed to track the Morningstar Women’s Empowerment Index. The index is built with the gender equality data and scoring methodology of Equileap, which represents 200 companies culled from 1,200 of the largest U.S.-listed publicly traded companies based on each company’s Gender Equality Score, which is evaluated under a set of 19 gender equality criteria.

Impact Shares, itself a 501(c)(3) charity, donates the net advisory proceeds it receives from each ETF it sponsors back to the collaborating nonprofit partner — in WOMN’s case YWCA.

According to Alejandra Castillo, CEO of YWCA USA, the WOMN ETF allows the YWCA to “leverage the capital markets to further our 160-year mission to eliminate racism and empower women.”

“The entire YWCA network, made up of more than 200 local associations, is excited about this innovative product that provides the investor the opportunity to generate both financial and social returns, and helps fuel the future of our work,” Castillo said in a statement.

This partnership with YWCA to launch WOMN follows the recent debut of the Impact Shares NAACP Minority Empowerment ETF (NACP).

Solactive Launches New Index Combining Three Strategies in One Index

Solactive launched the Adaptive Wealth Strategies U.S. Factor Index, which dynamically allocates across three sub-indexes with exposure to U.S. equities in the large and mid-cap segment. The new index also exhibits characteristics of one of three primary factors: value, momentum and low volatility.

The index will dynamically allocate across the following three Solactive factor indexes: Solactive U.S. Large & Mid-Cap Value 100 Index TR, Solactive U.S. Large & Mid-Cap Momentum 100 Index TR, and Solactive U.S. Large & Mid-Cap Minimum Downside Volatility 100 Index TR.

The weighting is determined by the performance of each sub-index in the past 2 years.

The index has been developed together with Adaptive Wealth Strategies, a division of Carroll Financial Associates, based on its existing strategy. The Adaptive Wealth Strategies U.S. Factor Index will be the underlying for the new Global X Adaptive U.S. Factor ETF.

Envestnet | Tamarac Introduces Enhanced Features for Family Office Reporting

Envestnet | Tamarac announced new enhancements to its Tamarac Reporting platform to help RIAs in single-family and multi-family offices better provide wealth management strategies for their ultra-high net-worth clients.

Through Tamarac’s enhanced search engine functionality, RIAs will be able to more easily search within households with complex entity structures. For example, within one multi-generational family household, RIAs can now search specifically for individual members or member groups such as grandchildren to view data specific to their respective accounts.

Tamarac also rolled out the “Relationship Diagram,” which it’s calling a “major new feature.” RIAs and their clients can use the diagram to see how households and groups are structured. Advisors are now able to have a high-level visual of assets within a specific household.

Personal Capital Launches New Feature to Simplify Retirement Income

Personal Capital announced a new feature that will help clients with a personalized, tax-efficient withdrawal strategy for retirement.

The new feature, called Retirement Paycheck, provides clients with guidance on how to withdraw money in retirement in a simple, clear, year-by-year, interactive way so they can plan for tax implications and avoid penalties by withdrawing funds from the right mix of accounts.

Clients can access the feature now within Personal Capital’s Retirement Planner, the company’s Monte Carlo forecasting tool, which shows a retirement savings projection that incorporates portfolio return and volatility, annual savings, income and spending goals.

With Retirement Paycheck, Personal Capital clients can easily see taxable, tax-deferred and tax-free accounts and get guidance on which to withdraw from, in what amounts, for each year of retirement.

The new feature will also allow clients to see an indicator to reach out to their advisor if a Roth conversion or tax gain harvesting strategy is appropriate for the client’s situation to save money on taxes.

Advyzon Enhances Composite Reporting Capabilities for Advisors

Fintech platform Advyzon enhanced its composite reporting capabilities, according to a recent announcement.

Available through Advyzon’s cloud-based platform, the new composite dashboard provides a set of tools for custom construction and ongoing monitoring and maintenance of composites. It also allows for advisors to view practice-level composite data — including trailing composite performance, total assets under management by composite, composite standard deviation, and a composite list with key profile details — without the need to run reports.

Advyzon also introduced enhanced functionality to simplify the composite reporting process and follow Global Investment Performance Standards (GIPS) compliance guidelines. This is supported in part by the addition of a comprehensive audit log/documentation to track all changes, additions and removals to composite data, and access to granular calculation details over any requested time period.

A new advanced search tool can also help users quickly identify account entry/exit from composite, which is equally vital for auditing purposes.

In addition, Advyzon’s upgraded reporting features will allow advisors to easily pull composite membership history, performance audit, composite performance versus benchmarks, GIPS compliance presentation and composite risk statistics. Advyzon users can now schedule reports — or recurring reporting tasks — in advance, facilitating completion of all reports in a timely and efficient manner.

—Read last week’s portfolio product roundup here: FinMason Integrates With Orion to Expand Advisors’ Planning Abilities: Portfolio Products