A Wells Fargo branch office. (Photo: Bloomberg)
Wells Fargo Institutional Retirement and Trust announced a new Retirement Income Planning Center, an online resource for the plans that the unit administers to help investors over 50 with key issues to consider as they near retirement.
"Too often, people delay retirement planning until just a few years or even months before leaving the workforce," said Jon Graff, Wells Fargo Institutional Retirement and Trust director of participant services. "When you start that late, retirement experts often find there is little to be done to impact your outcome. But if you start at age 50 or 55, you have 10 to 15 years to change your expected outcomes."
The Retirement Income Planning Center provides resources to help create a retirement budget and income plan, two essentials for determining whether one is "on track" for retirement. It also features videos of retiree experiences and tools to help visitors envision what retirement might look like, meeting the need many have to visualize themselves in retirement and better define what retirement means.
Wells Fargo Institutional Retirement and Trust has also developed Retirement Income Conversations, a service that supports participants wanting to have conversations about their retirement.
Through targeted messaging to individuals whose employers offer a Wells Fargo-administered retirement plan, the firm encourages people to call a dedicated toll-free number and talk to a trained representative about retirement income. In addition, onsite meeting presenters are trained to hold these conversations in person at those companies.
Since introducing these tools and services, Wells Fargo Institutional Retirement and Trust has conducted nearly 1,000 conversations in just a few weeks, the firm said. Many callers had already accessed the Retirement Income Planning Center content and had more detailed questions for Wells Fargo Institutional Retirement and Trust's representatives.
Natixis and Loomis Sayles Launch New Index Offering a Stable Risk Profile
Natixis entered into a licensing agreement with Loomis, Sayles & Co., an affiliate of Natixis Investment Managers, to launch the Loomis Sayles Asset Selector Equity Rotation Index (LASER).
The index, whose launch marks Loomis Sayles' entry into the multi-asset custom index space, is designed to provide a stable risk profile through market cycles by offering dynamic rebalancing between momentum equity, value equity, and fixed income allocations, while targeting volatility levels of 6%.
LASER was designed specifically to provide a dynamic rebalancing and rules-based exposure to U.S. equities and fixed income, according to Loomis Sayles.
LASER is an excess return index and is calculated in U.S. dollars.
Direxion Launches 4 Leveraged, Inverse ETFs to Reflect GICS Sector Updates
Direxion added four ETFs to its Daily Leveraged and Inverse Sector exchange-traded fund lineup, reflecting recent Global Industry Classification Standard (GICS) sector changes.
Under the new GICS structure, the telecommunication services sector expanded to include telecommunication companies, and select companies from the consumer discretionary and information technology sectors, and was renamed communication services.
These new ETFs from Direxion offer exposure to the existing consumer staples sector and to the Consumer Discretionary sector, updated by S&P Dow Jones in September.
- The Direxion Daily Consumer Discretionary Bull 3X Shares ETF (WANT) tracks the Consumer Discretionary Select Sector Index and has a net expense ratio of 1.01%.
- The Direxion Daily Consumer Discretionary Bear 3X Shares ETF (PASS) tracks the Consumer Discretionary Select Sector Index and has a net expense ratio of 0.97%.
- The Direxion Daily Consumer Staples Bull 3X Shares ETF (NEED) tracks the Consumer Staples Select Sector Index and has a net expense ratio of 1.01%.
- The Direxion Daily Consumer Staples Bear 3X Shares ETF (LACK) tracks the Consumer Staples Select Sector Index and has a net expense ratio of 0.97%.
Consumer discretionary, which no longer includes media and entertainment companies, continues to primarily offer exposure to retailers, including Amazon and Home Depot.
Consumer staples, on the other hand, retains a greater orientation toward value stocks with exposure to companies considered to be more essential to daily living, such as Procter & Gamble and Coca-Cola.
Like all leveraged and inverse ETFs, these Direxion products are intended only for investors with an in-depth understanding of the risks associated with seeking leveraged and inverse investment results, and who plan to actively monitor and manage their positions. There is no guarantee that the funds will meet their objective.
