SEI Launches Investor Tax Savings Report For Independent Advisors
Independent Advisor Solutions by SEI, has launched a new report that estimates clients’ tax savings.
The new “Estimated Taxes Saved” report gives independent financial advisors the ability to run an automated report across a variety of time periods, including the prior month, quarter, year or year-to-date, which in turn allows them to have more timely and relevant conversations with their clients.
Each report is specific to individual client accounts employing an SEI Tax-Managed ETF Strategy or tax overlay management across equity portfolios in SEI’s Managed Account Solutions program.
SEI’s ETF tax strategy and tax overlay management seek to opportunistically harvest tax losses during periods of market volatility. In addition, tax overlay management can coordinate buys and sells among managers, implement manager and asset allocation changes, and apply rebalancing policies to an overall portfolio—all in a tax-efficient manner using individual securities.
Innovator ETFs Now Offering Stacker ETFs
Innovator Capital Management LLC, in Wheaton, Ill., has debuted its Stacker ETFs. These funds offer investors “stacked” exposures to multiple different broad equity indexes at once, offering upside potential on some while capturing the downside potential of only one, the S&P 500 Index vehicle.
The Stacker ETFs are constructed using Cboe FLEX Options, offering exposure to select equity markets rather than investing in them directly. The FLEX Options forming the underlying positions of the Innovator Stacker ETFs are based on the iShares Russell 2000 ETF (IWM), the Invesco QQQ Trust consisting of Nasdaq-100 stocks (QQQ), and the SPDR S&P 500 ETF Trust. The upside of all these markets is captured only up to a cap, while the downside is only captured on the S&P 500 fund.
The Stacker ETFs are designed to help financial advisors and wealth managers take the guesswork out of constructing equity portfolios by providing them with diversified exposure across the U.S. stock markets without increasing investors’ risk beyond the S&P 500, the benchmark many of them are most comfortable with.
Unlike traditional leveraged ETFs, which can produce distorted returns and higher volatility when they are held for the long term because of their frequent, often daily rebalancing, Stacker ETFs seek to provide asymmetrical returns over a yearlong outcome period, making them well-suited to long-term investment.
Hightower Debuts Next-Gen Center For Business Leadership
Hightower, a wealth management firm headquartered in Chicago, has launched the Hightower Center for Leadership, an education and training program designed to empower its next generation of leaders.
The 100-education-hour program, designed for soon-to-be partners, lead advisors, relationship managers, operational professionals, business managers and those involved with strategic decisions, is focused on preparing wealth management leaders at a time when many practice founders are transitioning to retirement.
Hightower leaders and industry experts, including Philip Palaveev of the Ensemble Practice, will provide simulation-based training during the two-year certificate program by organizing participants into teams of five or six members. Each team is tasked with managing a simulated firm for the duration of the program. The simulated firms come complete with a history, team dynamics, operational decisions, staff and compensation situations, equity structures and obstacles to growth. Teams work closely with a coach to address each firm’s challenges.
Hightower said it expects to have over 40 team members participate in the initial launch of the program. In addition to learning how to manage a firm during the two-year curriculum, participants will also benefit from the peer-to-peer networking and community that is created.
For more information, visit www.hightoweradvisors.com.
TIAA Introduces New Mobile Enrollment To Promote Retirement Savings
TIAA, a financial services provider in New York City, has unveiled a new mobile experience that makes it easier for participants to manage their retirement plans.
The enhanced experience allows clients to quickly and securely enroll in their plans, change contributions, set investment strategy and update personal details. It streamlines the enrollment process into a few easy steps and provides recommendations for participants who may need guidance along the way.
The platform shows participants only the most important and actionable information to ease the on-boarding process and help facilitate decisions.
In addition to enhanced mobile enrollment, TIAA has launched expanded capabilities on Amazon Alexa and Apple’s Siri, today’s leading digital assistants for devices ranging from smartphones, watches and displays to speakers such as Amazon’s Echo and Echo Dot.