Sound Income Strategies Debuts ETF For Retirees And Pre-Retirees
Sound income strategies, an RIA specializing in actively managed income-generating portfolios for retirees and those planning for retirement, has launched two actively managed income exchange-traded funds on the New York Stock Exchange.

The Sound Equity Income ETF (SDEI) and Sound Enhanced Fixed Income ETF (SDEF) were created specifically to generate income at a time when interest rates are at ultra-low levels. This is important to baby boomers, who are entering retirement hungry for yield and income.

The SDEI fund was created to generate current income via a dividend yield targeted to be at least two times that of the S&P 500, and to capture long-term capital appreciation by investing in common stock issued by dividend-paying mid- and large-capitalization companies.

 The SDEF fund is also designed to generate income and capital appreciation, but in fixed-income securities. The ETF invests in a combination of investment-grade and below-investment-grade debt. The portfolio weighting will be adjusted from time to time, according to the subadvisor’s assessment.

Sound Income Strategies partnered with the team at Tidal ETF Services to bring Sound ETFs to market.

SkyBridge Launches Bitcoin Fund
SkyBridge Capital, a New York City-based alternative investment firm, has launched the SkyBridge Bitcoin Fund, which provides mass-affluent investors with an institutional-grade vehicle for exposure to Bitcoin.

Bitcoin was designed as an international currency that could replace government-issued (fiat) currencies. Since its inception in 2009, Bitcoin has turned into a highly volatile investing asset that can be used for transactions where merchants accept it.

With the launch of the SkyBridge Bitcoin Fund, investors will have access to institutional-quality custody and operation, without having to directly hold the digital currency itself.

The SkyBridge Bitcoin Fund will charge a 75 basis point management fee and no incentive fee. Accredited investors can subscribe directly to the fund, which requires a minimum investment of $50,000, at skybridgebitcoin.com. Fidelity will serve as custodian, and Ernst & Young will audit the fund.

Hamilton Lane Launches New Fund To Expand Private Market Access In U.S.
Hamilton Lane, an alternative investment management firm headquartered in Bala Cynwyd, Pa., has introduced a closed-end investment fund targeted to high-net-worth investors and their wealth advisors.

The Hamilton Lane Private Assets Fund provides qualified U.S. investors with access to a diversified, institutional-quality portfolio of private equity and private credit assets through a single investment.

The fund is a multi-strategy vehicle that seeks to generate capital appreciation over the medium and long term; it features a low minimum investment of $50,000 and allows simple 1099 tax reporting. By targeting fee-efficient investments, the fund offers the potential for attractive risk-adjusted returns and limited administrative burden.

Hamilton Lane seeded the fund with $30 million, alongside an additional $100 million in capital from an anchor investor.

Guardian Life Debuts Care Conversion Option Rider To Term Life Insurance
The Guardian Life Insurance Company of America is now offering the industry’s first term insurance rider that guarantees the availability of a long-term-care services rider upon conversion.

Guardian’s Care Conversion Option Rider (CCOR) guarantees access to an LTC rider benefit when a term life policy is converted into a permanent policy, giving term policyowners access to a long-term-care rider with no additional underwriting upon conversion.

Before Guardian introduced the conversion rider, policyowners would be re-evaluated at the time of conversion to qualify for additional benefits such as this one. But with the rider, Guardian said, there is no risk of being declined for LTC coverage at the time of conversion.

With the Care Conversion Option Rider, the policyowner begins with term life coverage and can then convert to a permanent policy that is guaranteed to provide long-term-care coverage to help the insured person mitigate any risk from long-term health concerns, and can do so without the need for medical exams or additional requirements—an important concern for many people during the ongoing Covid-19 pandemic.

The optional rider is available at issue on Guardian level term policies for 10, 15, 20 and 30 years, and is effective for the first five policy years or 10 years when the extended conversion rider is included.

LPL Financial Integrates RightCapital Into ClientWorks Platform
Broker-dealer LPL Financial is now offering its advisors access to RightCapital’s financial planning software through the LPL ClientWorks technology platform.

RightCapital aims to make wealth planning easier and more powerful for financial professionals and their clients by incorporating a robust calculation engine that quickly generates results and a centralized client portal that simplifies the financial planning experience.

The software boasts tools for retirement planning, budget and debt management, estate planning and tax-efficient distribution, which give advisors greater efficiency, build stronger client relationships and generate significant business growth, LPL said.