Hot Off the Presses

New products, highlights, announcements
Reported by PLANADVISER Staff

Adviser Support 

Primerica Financial Services and Waddell & Reed, Inc., have selected Morningstar Portfolio Builder, an asset allocation and portfolio construction tool, for use by their financial advisers. Morningstar Portfolio Builder is a ­Web-based workflow licensed by institutions to help their advisers efficiently and consistently construct client portfolios and present recommendations. 

Matawan, New Jersey-based Concord Equity Group Advisors has released an enhancement to its Wealth Management platform that will enable portfolio managers and financial advisers to allocate client assets among third-party investment managers, ETFs, mutual funds, and a financial institution’s internal investment strategies. The enhanced asset allocation function also can add value during the sales process, according to Nick Mariniello, executive managing director, who says that prospective clients better appreciate the benefits of an open architecture approach after a visual demonstration of how assets would be assigned to various managers and financial instruments.  

The Pershing Advisor Solutions LLC unit of The Bank of New York Company, Inc., has launched NetExchange Investor, an online account management ­solution for independent registered investment advisers’ clients. NetExchange Investor allows RIAs to provide their clients with real-time access to a range of critical business information on their investment portfolios, as well as financial market activity around the world. NetExchange Investor, which replaces Pershing’s PortfolioPoint platform, will offer access to account information, including current and archived trade confirmations; periodic account ­statements and yearly tax statements; access to BillSuite; consolidated snapshots of account activity, positions, and balances; and the ability to view related accounts. 

MetLife Investors Distribution Company (MetLife Investors) has expanded ­its partnership with Wachovia Securities, LLC, to offer certain MetLife Investors variable annuities and its suite of optional living benefits in Wachovia bank locations across the US. The products are made available to customers through approved Wachovia Securities financial advisers in the firm’s Investment Services Group.  

Plan & Participant Tools 

Nationwide Financial Services, Inc., has introduced a new program designed for defined contribution plans with less than $10 million in assets.Nationwide said Retirement Innovator simplifies plan implementation for small plan sponsors by providing them with tools and services traditionally reserved for larger plans, including Web sites; educational materials; and Fiduciary Series, a fiduciary risk management program designed to help plan sponsors understand and manage their fiduciary responsibilities. Plan sponsors also will have the option to receive personalized and interactive service from a local investment professional and TPA, the announcement said.  

The National Center for Employee Ownership has just released its fully updated Model ESOP (employee stock ownership plan), which includes a model employee stock ownership plan (ESOP) document with alternate provisions and a detailed, step-by-step explanation and commentary.It has been revised to reflect recent tax law changes, including the Pension Protection Act of 2006, and includes a CD with the plan documents in word-processing format. 

Las Vegas-based Maul Capital Management, a financial advisory firm, has unveiled its LifeSync 401(k) advice program. Working with a plan sponsor and plan administrator, LifeSync provides small to mid-size businesses with financial advisory services for their employees, according to a news release.  

Eaton Vance Corp. has unveiled its Supplemental Retirement Account (SRA), a Web-based program for systematic retirement savings outside a qualified plan. The SRA investments are made in a diversified portfolio of tax-managed equity and tax-exempt municipal income mutual funds selected by the participant, maintained and reported as a single consolidated account. The newly unveiled program is designed to help bridge the retirement savings gap by facilitating regular savings and investment outside the bounds of qualified plans, the company said. 

Wells Fargo has introduced “My Savings Plan,” a new free online tool that allows customers to set savings goals and track their progress. With My Savings Plan, customers establish a goal­—such as a vacation, home improvement, or vehicle purchase—and a target savings amount. They can set target time frames for the goals, monitor their growth with online progress meters, and schedule automated transfers from their primary accounts to their savings accounts. Goals, amounts, and timing can be edited at any time. 

Fund Facts 

John Hancock Retirement Services has added eight target-date funds and a Retirement Portfolio to its roster of investment options for 401(k) plan participants. Currently, John Hancock’s 401(k) business is split 50/50 between lifestyle participants and those choosing their own funds. With the opening of the new target-date funds, the company is hoping to attract companies with ­participants who want to hand off all of the investment option ­responsibility. 

State Street Global Advisors (SSgA) has launched two international exchange-traded funds (ETFs) on the American Stock Exchange. The ETFs—streetTRACKS Russell/Nomura Prime JAPAN ETF, and streetTRACKS Russell/Nomura Small Cap Japan ETF—include two ­Japan-focused funds based upon indices created by the Russell Investment Group and Nomura Securities Co., Ltd. 

WisdomTree Investments, Inc., has asked for Securities and Exchange Commission approval to register 31 new exchange-traded funds (ETFs).According to a news release, the WisdomTree Indexes anchor the initial weights of individual stocks to a measure of fundamental value, rather than using capitalization-weighted indexes. 

Rydex Investments launched a family of exchange-traded funds (ETFs) based on the S&P Equal Weight Sector Indices.The nine equal weight sector ETFs trade on the American Stock Exchange and seek to provide investors with full exposure to the following sectors: consumer discretionary, consumer staples, energy, financial services, health care, industrial, basic materials, technology, and utilities. The introduction of the Rydex S&P Equal Weight Sector ETFs marks the expansion of Rydex’s ETF product lineup to two dozen.