New Platform Helps Advisors Transition To Independent Channel
FusionIQ, a provider of cloud-based wealth management solutions, has launched a new turnkey white-label wealth management platform entitled FIQ Freedom that will work with those advisors looking to break into the independent channel and help them shorten the transition process.
The platform offers several services for advisors, including rep-as-portfolio manager tools (which allow advisors to invest in securities for clients), and combines them with a seamless workflow that will bring together the front, middle and back offices.
The platform’s features include streamlined digital compliance, which will help advisors with anti-money laundering and know-your-customer identification processes.
Orion Partners with CAIS to Put Alts On Its Platform
Wealth tech platform Orion has signed a deal with CAIS, an alternative investment platform for independent financial advisors, to give Orion’s advisor users, along with their clients, access to a series of alternative investment products.
Orion is seizing on the demand for alternative investment in its partnership with CAIS, which will grant advisors access to private equity, private debt, private real estate and hedge funds. CAIS, a New York-based firm, launched in 2009.
CAIS will offer Orion a turnkey platform that will provide an end-to-end pre-trade, trade and post-trade experience, according to the firm. Pre-trade includes due diligence, marketing, and access to all 125 of CAIS’s products, though Orion will curate it down to 10 to 15, the firm said.
Luma Makes Annuities Available To Pershing Advisors
Luma Financial Technologies will make its annuity products available to advisors at BNY Mellon Pershing, the companies announced. Advisors who use the NetX360+ platform will have access to Luma’s products and its marketing and education tools.
The educational elements Luma provides will clearly explain the benefits of annuities and how they compare with other options, the firm said.
The partnership between the firms will help advisors have a better understanding of annuities in order to use them more in their client portfolios. Luma will update advisors on potential changes taking place within the accounts after the execution of a trade.That could include reminders of a potential withdrawal date or a rate renewal in one of the products.
Fidelity Introduces Its First Options-Based ETFs
Fidelity Investments launched its first options-based ETFs. The Fidelity Dynamic Buffered Equity ETF (FBUF), the Fidelity Hedged Equity ETF (FHEQ) and the Fidelity Yield Enhanced Equity ETF (FYEE) each start with an underlying common core U.S. equity strategy that aims to outperform the S&P 500. From there, the three funds differ in investment styles and goals.
The hedged equity ETF protects against any sudden and meaningful market drawdowns. The enhanced equity ETF delivers positive distribution yield by harvesting options that originated through covered call writing. And the third ETF brings together both call-writing and put-buying overlays, the firm said.
The buffered and hedge equity ETFs each have an expense ratio of 0.48%, while the enhanced equity ETF is 0.28%.
Cohen & Steers Converts Fund For New Energy Approach
While most energy strategies invest either in traditional forms of energy, like fossil fuels, or in alternative forms, Cohen & Steers is taking a new approach by investing in both simultaneously.
The firm has converted its Cohen & Steers MLP & Energy Opportunity Fund (MLOIX) into the Cohen & Steers Future of Energy Fund. It will invest at least 80% of its net assets in equity securities of energy companies, including traditional, alternative, renewable and clean energy companies, natural resource companies, utilities and companies in associated businesses.
Park Avenue Securities Launches New Private Client Group
The broker-dealer and corporate RIA of the Guardian Life Insurance Company of America, Park Avenue Securities, announced it will be launching a new private client group to work with high-net-worth clients and address their specific goals.
The New York-based firm is making the new private client group available to those clients at no additional cost and will offer lines of credit based on securities, alternative investments, personalized investment management solutions, structured products, and cash management offerings, according to the firm.
In addition, it will provide personalized services that will originate from firms that partner with Park Avenue. Those services will meet the needs of the wealthy clients and include things such as philanthropy services, business owner solutions, trusts and jumbo mortgages.