In a move that is likely to shape ETF investing, Morningstar Inc. will introduce a new index family in January — the Morningstar Broad Style Indexes — that it says is designed to more accurately represent the size and style dimensions of the U.S. equity market.
As part of the initiative, the nine exchange-traded funds in BlackRock Inc.’s iShares Morningstar U.S. Equity Style Box ETF suite, which have $7 billion in assets, will begin tracking the new indexes, whose underlying data and methodology are designed to be consistent with the Morningstar Style Box, the company said in a release.
The Morningstar Style Box will not experience changes as a result of the launch of the Morningstar Broad Style Index family.
Each of the funds in the iShares Morningstar U.S. Equity Style Box ETF suite also will see forward share splits and new tickers. The changes are expected to be implemented no earlier than March 19.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
