Investment Product and Service Launches

Betterment Unveils Tax-Smart Transitions Features for Advisers 

Betterment announced that Betterment for Advisors, its registered investment adviser custody division, has launched an integrated suite of tools providing financial advisers with granular control over how client assets are managed, transferred and sold. 

The new features will allow advisers to set specific capital gains allowances. Advisers can more easily turn rebalancing on and off for clients, transitioning client assets to new portfolio models with greater precision and tax optimization. 

“Our tax-smart trading technology takes what was once a burdensome task and automates it, saving advisors time and effort that can be better spent growing their businesses,” Tom Moore, senior director of Betterment for Advisors, said in a statement. “This ultimately delivers a better experience for the advisors’ clients.” 

Broadridge Secures Patent for Machine Learning Technology  

The U.S. Patent and Trademark Office has granted Broadridge Financial Solutions a patent for its machine learning technology.  

The technology powers the firm’s ability to provide financial advisers with engagement-predicting scores and other valuable insights on securities-based lending.  

“This patent supports Broadridge’s commitment to providing wealth management firms and their advisers with innovative and personalized products in wealth lending to meet increasing demand,” Mike Alexander, president of wealth and capital markets solutions at Broadridge, said in a statement.  

Broadridge partnered with client The Bancorp Bank NA to train and productionize machine learning models to deliver borrower insights at the enterprise and adviser level. 

Victory Capital Introduces VictoryShares Free Cash Flow ETF

Victory Capital Holdings, Inc. announced that its wholly owned investment adviser, Victory Capital Management Inc., has launched a new rules-based exchange-traded fund, VictoryShares Free Cash Flow ETF.

The new ETF seeks to provide investment results that track the performance of the Victory U.S. Large Cap Free Cash Flow Index, which invests in profitable U.S. large-cap companies with high free cash flow yields and favorable growth prospects.

“With the launch of VFLO, we are evolving traditional value strategies by leveraging well-researched methodologies designed to provide investors with a compelling opportunity to capitalize on companies with attractive free cash flow yields without sacrificing growth potential,” Mannik Dhillon, president of VictoryShares and Solutions, said in a statement.