EAInvest Launches SRI Program For Independent Advisors

EAInvest of San Francisco has introduced a program to help advisors interested in socially responsible investing (SRI).

"SRI is pushing into the mainstream of investing as more clients align their investments with their values, and independent advisors need to serve them," says Chuck Siegel, EAInvest‚s vice president of sales and marketing.

According to Social Investment Forum, www.socialinvest.org, more than $2.3 trillion was in portfolios that use at least one of SRI‚s three strategies–screening, shareholder advocacy, and community investing, Siegel said "That‚s nearly one of every eight professionally managed dollars. Socially screened portfolios grew by more than a third–this during a rocky period in the markets."

The program, offered through the firm‚s subsidiary EAInvest Securities, offers socially responsible mutual funds and managed account portfolios, as well as a client services/sales team with SRI experience. In addition, at www.eainvest.com/sri, advisors can get expert opinions, guidance and resources.

EAInvest Securities Inc. is a custodial platform offering brokerage and back-office products, services, software and training exclusively to independent financial advisors.

Fee-Based Planning

More firms want to capitalize on the interest in fee-based planning, and New England Financial is no exception.

The Boston-based firm recently began offering fee-based financial planning through its broker-dealer subsidiary New England Securities.

Through the program, financial planning specialists at local firms work with sales representatives to develop plans for clients. Fees are based on the complexity of the plan, and currently New England Financial‚s fee per plan is averaging $2,200.

"We are taking the needs-based selling approach a step further by providing the in-house support and training that producers need to fully analyze their clients‚ specific financial situation and develop an objective financial plan that addresses their clients‚ personal and business needs," says Bette Skandalis, New England Securities‚ vice president of financial planning. Skandalis joined the company last year specifically to design and develop the infrastructure needed to deliver fee-based planning services at the local level.

New England Financial, a major insurance and financial services company, is an affiliate of Met Life. For more information, visit www.nef.com.

MSC Forms Joint Venture

Mutual Service Corp. (MSC) has formed a joint venture with Wells Fargo Home Mortgage to offer mortgage services and technology to MSC‚s independent registered representatives.

The new company, Mutual Service Mortgage, offers home equity loans and lines of credit, interest-only programs, reverse mortgages, renovation loans, construction loans, reduced documentation loans and alternative credit programs.

Mutual Service Mortgage provides MSC representatives‚ clients with discounted services, including reduced closing costs, free pre-qualification and mortgage analysis, and specialized loan programs.

MSC is a wholly-owned subsidiary of Pacific Life Insurance Co. The West Palm Beach, Fla.-based firm is one of the nation‚s largest independent full-service broker-dealers.

Asset-Allocation Software

New Frontier Advisors LLC of Boston is offering new asset-allocation technology for financial advisors.

The software includes patented resampling methodology to identify particular asset allocations. It combines research in long-term investment theory and mathematical statistics to identify asset allocations consistent with an investor‚s risk tolerance and financial objectives.

The new program allows advisors and clients to identify appropriate portfolios to meet specific investment needs and objectives, including retirement planning and endowment planning for trusts, foundations and estates. The software is available to advisors on a licensed basis.

For more information, visit New Frontier‚s Web site at www.newfrontieradvisors.com or call (617) 482-1433 to speak with a sales representative.

New Liability Coverage

The St. Paul Companies, based in St. Paul, Minn., unveiled a professional liability product to help protect investment advisors from the risks associated with providing services to their clients.

St. Paul SelectOne offers various forms of liability coverage, including professional, directors and officers, employment practices, fiduciary, mutual fund professional and private investment fund general partnership.

For more information, visit www.stpaul.com.