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Russell Investments Delivers New Income Strategies via Envestnet: Portfolio Products

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Global asset manager Russell Investments announced that financial advisors and their clients now have access to the firm’s two new income model portfolio strategies – the Target Income Model Strategy and the Target Income Plus Model Strategy – through Envestnet’s third-party fund strategist platform.

This follows other recent launches on both Robert W. Baird & Co.’s platform for financial advisors and TD Ameritrade’s Institutional Model Market Center.

“We see significant potential and demand from advisors for these new multi-asset solutions as attractive sources of yield-based income amid today’s challenging capital markets landscape,” Mark Spina, head of North America Advisor & Intermediary Solutions at Russell Investments, said in a statement.

Russell Investments’ income model strategies are designed to deliver yield-based income at an attractive cost to income-seeking investors. The portfolios comprise active and passive investment vehicles including Russell Investments’ funds, third-party mutual funds and ETFs, all strategically assembled to offer global, multi-asset diversification that includes exposure to equities, fixed income and alternatives.

The Target Income Model Strategy targets an after-fee yield of approximately 4%, while the Target Income Plus Model Strategy targets an after-fee yield of approximately 4.5%. The weighted average net expense ratio for the model portfolios ranges from 0.67% to 0.73% for Class S shares.

TCA by E-Trade Doubles Number of ETFs on Custody Advantage Program

TCA by E-Trade expanded its ETF Custody Advantage program, adding 130 exchange-traded funds from First Trust Advisors.

Advisors who use TCA by E-Trade can now access more than 280 ETFs, almost doubling the funds available on the Custody Advantage program.

The ETF Custody Advantage program offers investing flexibility through intraday trading on a regulated exchange. ETFs participating in the ETF Custody Advantage program provide RIAs with a custody fee offset, automatically applied to assets held in ETFs on the platform.

In August, TCA by E-Trade added more than 80 ETF products from WisdomTree, J.P. Morgan, and Nationwide.

ETFs participating in the ETF Custody Advantage program receive a custody fee offset, automatically applied to assets held in ETFs on the platform.

Betterment for Advisors Enhances Its Advisor Dashboard

Betterment for Advisors introduced an entirely new Advisor Dashboard that enhances the look, feel, and functionality for all advisors.

The update includes an improvement to the design of the dashboard to now provide a more intuitive view of clients’ investments and activities.

Advisors will also now have a detailed view of net deposits, total client assets managed on Betterment for Advisors, and pending actions like incomplete rollovers.

Advisors will also find pending actions your clients have yet to complete, such as signing off on documents to open an IRA.

The update also includes client insights to help advisors better understand how their clients interacting with their investments.

Seafarer Capital Partners Reopens Overseas Growth and Income Fund

Seafarer Capital Partners announced that the Seafarer Overseas Growth and Income Fund’s Institutional Class (SIGIX) will reopen to new investors on November 19.

The fund’s Institutional Class is reopening because Seafarer believes the fund has additional capacity to accept new assets. However, the fund’s Investor Class (SFGIX) will remain closed to most new investors.

According to the prospectus, SIGIX has total expense of 0.87%.

Launched in 2012, the Seafarer Overseas Growth and Income Fund seeks to offer investors a relatively stable means of participating in the growth prospects of emerging markets, while attempting to mitigate adverse volatility in returns.

The Seafarer Overseas Growth and Income Fund was previously closed to most new investors on September 30, 2016, in an effort to manage its investment capacity and moderate the pace of subscriptions.

— Read last week’s portfolio product roundup here: Are You Vegan and Worried About the Climate? There’s an ETF for That: Portfolio Products


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