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March 09, 2020 at 12:01 PM
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.
