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Fidelity Introduces Funds Targeting HSAs: Portfolio Products

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Fidelity Investments launched two new mutual funds specifically designed for investors looking to grow their health Health Savings Account savings to meet future medical expenses.

The Fidelity Health Savings Fund is available in a retail share class (FHLSX with annual expenses of 47 basis points) and a K share/institutional class (FHLKX, 37 basis points). The Fidelity Health Savings Index Fund, meanwhile, is available only in a retail share class (17 basis points).

The funds are only available for investors with a Fidelity HSA, including individual investors, employees in workplace savings plans for which Fidelity is the recordkeeper and clients of financial intermediaries that are Fidelity custody and clearing clients.

“Our goal with these new funds is to encourage more savers to take that next step and invest the HSA assets they intend to use for future healthcare expenses, and by doing so, more fully benefit from the great advantages of their accounts, which include the potential for tax-free growth,” said Vadim Zlotnikov, president of global asset allocation at Fidelity, in a statement.

The new Fidelity funds are co-managed by Avishek Hazrachoudhury and Geoff Stein.

InvestCloud Introduces New Wealth Management Digital Platform

Los Angeles fintech firm InvestCloud launched a new digital platform for RIAs and turnkey asset management programs.

InvestCloud White is being billed by the company as a “complete solution for the wealth management space.” The platform was designed and built on a single unified platform for RIAs to run their entire business, or for TAMPS to “support dozens” of other firms, the company said while announcing the new platform at the InvestCloud Conference in Miami, Florida.

InvestCloud White gives wealth managers and TAMPs the opportunity to truly achieve scale, supporting front to back office operations with functions including research, portfolio construction, rebalancing, reconciliation, billing, performance reporting, tax optimization and client reporting, the company said.

With the addition of InvestCloud White, the firm’s suite of apps now “covers all areas of a wealth manager’s business,” it noted. InvestCloud White combines InvestCloud Blue (client communication, automation and management), Orange (digital warehouse, aggregation and content management), Black (performance and risk) and Green (trade processing and accounting), it said.

“The launch of InvestCloud White marks a new opportunity for our clients to instantly gain access to our hundreds of hyper modular apps, with a complete front to back turnkey solution,” according to Yaela Shamberg, co-founder and chief product officer of InvestCloud.

Automated Lead Generation Added to eMoney Advisor ABM Tool

eMoney Advisor enhanced its Advisor Branded Marketing tool with Automated Lead Generation campaigns.

The new functionality was “designed to help financial advisors be more efficient and successful in their search for new clients,” the company said.

“Advisors are in dire need of resources that streamline how to market their services in the digital age, especially to younger generations,” it noted, adding: “As advisors adapt strategies to match the needs of new client demographics and struggle to manually generate leads, data suggests tools like ABM can dramatically change outcomes.”

With the new, simplified campaign workflow and automation in ABM, eMoney users can now “schedule and launch ready-made targeted content campaigns to generate and nurture leads through digital channels in just a few clicks,” it said.

The ABM enhancement includes a redesigned ABM dashboard that serves as a marketing command center, a library of targeted campaigns to reach niche markets, kitted campaigns giving advisors “everything they need without having to worry about sourcing or creating content,” and fully automated workflows that “eliminate the manual task of following up with new contacts to nurture and convert them,” the company said.

Alerian Expands Offerings With Dividend Index Suite

Information services firm Alerian launched the Alerian Midstream Energy Dividend Index (AEDW) and Alerian MLP Infrastructure Dividend Index (AMDW).

AEDW is a fundamentally-weighted index based on the liquid, dividend-paying portion of the North American energy infrastructure market. AMDW is based on the liquid, dividend-paying portion of the energy infrastructure Master Limited Partnership market. The capped, dividend-weighted indexes reflect the proportionate share of aggregate annual cash distributions each company is expected to pay, Alerian said.

Both AEDW and AMDW are to be rebalanced quarterly and reconstituted annually. Quarterly rebalancing will occur in January, April, July and October, the company said.

The company is “seeing growing demand across the investment community for more sophisticated midstream indexes,” according to Alerian CEO Dave LaValle. The new indexes “serve as a useful benchmarking tool that aims to provide access to a strategy that delivers long-term returns and yield,” he said.

Aflac Unveils New ESG Website

Aflac launched a new environmental, social and governance website “highlighting the company’s commitment to ESG initiatives important to investors, employees and consumers,” it said.

The new website includes the company’s 2019 ESG Report, highlighting the efforts it’s making in the U.S. and Japan to balance purpose and profit in a global business environment that is increasingly focused on a more sustainable approach to generate shareholder value, the firm said.

The new website provides financial and nonfinancial information from Aflac U.S. and Aflac Japan about activities, data and statistics and awards and accolades related to governance, workplace, philanthropy and environmental sustainability for the 2019 calendar year. The easy-to-navigate site allows users to learn how Aflac integrates various reporting frameworks, namely the Sustainability Accounting Standards Board, the Task Force on Climate-related Financial Disclosures, the United Nations Sustainable Development Goals and the Global Reporting Initiative, it said.

ImpactAssets Issues Ninth Annual IA 50 Impact Investment Manager Database

ImpactAssets has released its latest annual listing of 50 private capital fund managers that deliver social and environmental impact as well financial returns in line or above their initial targets.

This year’s IA 50 includes for the first time an Emerging Impact Manager category which spotlights new fund managers that demonstrate the potential to create meaningful impact. The 50 managers in the list have an estimated total AUM of almost $40 billion in private equity and private debt, up from $26.9 billion a year ago, including 11 with more than $1 billion in AUM.

“With record applicants and assets under management, the IA 50 continues to reflect the rapid growth and interest in impact investing,” said Jed Emerson, a senior fellow at ImpactAssets and chair of the IA 50 review committee, in a statement. He tells ThinkAdvisor that advisors can use the list not only for investment ideas for accredited investor clients but also as a resource to learn about impact investing.

All IA 50 fund managers are vetted for their leadership, overall strategy and specific impact objective by a group of 14 impact experts including representatives from RBC Global Asset Management, UBS, Tiedemann Wealth Management and the U.S. Impact Investing Alliance.  They must have a minimum or $25 million in AUM, more than three years of experience in impact investing along with documented impact achievement and be available to U.S. investors.

Over 60% of this year’s fund managers focus on decent work and economic growth and on no poverty, which are two of 17 UN Sustainable Development Goals. — Bernice Napach

— Check out last week’s portfolio product roundup here: Franklin Templeton Expands ETF Lineup: Portfolio Products