Citi To Launch New Program For Independent Advisors
Citi, a global bank headquartered in New York City, will roll out a premium banking and lending program this summer to meet the needs of independent advisors.
Following extensive research with independent financial advisors, Citi said it developed the Citi Alliance program for clients of registered investment advisors, financial technology companies, broker-dealers and custodians. The program partners with advisors to provide their clients with a comprehensive suite of benefits that include fee waivers for foreign currency deliveries, select wire transfers, checkbook orders, and foreign exchanges on purchases made with the Citi Alliance debit card.
Citi Alliance also provides advisors with 24/7 access to a dedicated relationship manager and service team, global ATM fee reimbursements and relationship pricing on a premium travel credit card and mortgages offers.
Wealth firms can also provide their clients with an integrated banking and wealth management digital experience. Both clients and their advisors can benefit from having the full financial picture available on one dashboard, the company said.
Innovative Portfolios Converts Two Mutual Funds To ETFs
Innovative Portfolios, an investment advisor and money management firm headquartered in Indianapolis, has announced the conversion of two actively managed mutual funds to exchange traded funds (ETFs).
The two ETFs, Dividend Performers Fund (IPDP) and Preferred-Plus Fund (IPPP) have attractive 3-year track records and performance rankings in their Morningstar categories, the company said in a news release. Both are listed on the Cboe BZX Exchange, a global marketplace for exchange-traded products (ETPs).
The Dividend Performers ETF (IPDP) is comprised of primarily large-capitalization common stocks of U.S. companies that pay dividends. IPDP employs an option overlay strategy that endeavors to enhance overall distributions to shareholders. Dividend Performers ranked first out of 95 funds in Morningstar’s category of U.S. Fund Options Trading, and first out of 84 funds in the same category, based on total return for the one- and three-year periods, respectively, ending December 31, 2021.
The Preferred-Plus ETF (IPPP) invests in U.S. preferred stocks with the goal of offering dividend income. IPPP’s strategy includes an option overlay feature that seeks to provide investors with incremental income. Preferred-Plus ranked 11th out of 51 funds and 1st out of 50 funds in Morningstar’s U.S. Fund Preferred Stock category for the one- and three-year periods, respectively, ending December 31, 2021, based on total return.
For a copy of the prospectus, call 800-617-0004 or visit innovativeportfolios.com.
Dividend Performers ETF and Preferred- Plus ETF are distributed by Foreside Fund Services LLC.