Fidelity Adds Three New Mutual Funds, Rebrands Lineup
In an attempt to bulk up its mutual fund lineup and create more brand consistency, Boston-based Fidelity Investments has introduced three new equity funds and renamed others. The company launched the Fidelity Large Cap Growth Index Fund, the Fidelity Large Cap Value Index Fund, and the Fidelity Total International Index Fund in early June. Each fund will be available in “Investor,” “Premium,” “Institutional” and “Institutional Premium” share classes.
The large-cap growth fund is benchmarked to the Russell 1000 Growth Index, the value fund to the Russell 1000 Value Index, while the international fund will invest at least 80% of its assets in securities included in the MSCI ACWI ex USA Investable Market Index.
Fidelity has also rebranded much of its indexed mutual fund lineup by replacing the “Spartan” name with “Fidelity” in an attempt to create consistency in branding across all of its mutual fund products. The share classes have also changed names—the “Fidelity Advantage” class has been renamed the “Premium” class. And the “Fidelity Advantage Institutional” class has been rechristened “Institutional Premium.”
Fidelity now offers 19 equity, fixed-income and hybrid index mutual funds under the Fidelity brand; 13 under the Fidelity Freedom Index Funds brand; and 12 passive ETFs. The company had $5.3 trillion in assets under advisement as of April 30, 2016, including
$2 trillion under management.
Yourefolio Introduces Avatar-Assisted Onboarding
Cleveland-based Yourefolio has upgraded its estate planning tools with an avatar-assisted onboarding process and other new features.
Dubbed “Yourefolio 2.0,” the new version includes elements inspired by behavioral finance and developed in coordination with psychologists.
In the program, an avatar guides clients through questions that detail the estate planning process. The questionnaire goes beyond the transfer of wealth and includes questions about inner-family workings, the transfer of family heirlooms and other special instructions.
Yourefolio 2.0 will also link to the Master Death Index, which will alert advisors of a client’s passing so that they can initiate any contingency plans they’ve built together.
Pershing Expands API Access, Integrations
Orlando-based Pershing launched a suite of technology enhancements to improve digital integration.