Wells Fargo to Drop Crow Point Partners From 3 Funds: Portfolio Products

RIA Trust Advisory Group launched TAG 2.0, a new succession program designed to help retiring financial advisors.

The new program represents the "next generation of financial management," the Boston firm said in its announcement, calling it a "new take on financial advisory services that combines the best of all worlds: the fresh thinking, creativity and enthusiasm of a start-up division, infused with the experience and know-how of seasoned advisors, backed by the security and stability of a 30-year-old institution."

TAG 2.0 "addresses the industry-wide problem of advisors aging out of the workforce with no one in the pipeline to replace them," the company said, adding: "Few advisors know how to monetize the value of their books and fewer still have a succession plan in place."

TAG 2.0 was built on the TAG TEAM model, which the company said "enables transitioning advisors to help select their own successor from the younger advisor pool of TAG TEAM Wealth Associates and mentor them as they work together to transition client relationships."

This system "provides clients with the security of knowing that their interests are well taken care of throughout the transition of the senior advisor, and that their new advisor is equipped with the necessary background and knowledge and shares similar values and outlooks," it said. Tag 2.0 also "allows advisors to transition out of their practice at their own pace, be it months or even years."

Black Diamond Wealth Platform Integrates with RIA in a Box's MyRIACompliance

RIA in a Box's MyRIACompliance software now integrates with SS&C Technologies' Black Diamond Wealth Platform, the companies.

The integration enables clients of both companies to "automate the compliance and registration process, helping to ensure accurate registration and Form ADV information is filed," they said in an announcement.

MyRIACompliance sources data from Black Diamond that "enables advisory firms to track registration and notice filings so they can update compliance requirements in real-time in the correct jurisdictions," the companies said, adding they are also able to "immediately identify and address potential discrepancies, so they are properly registered."

Lyons Wealth Investment Strategies Join Schwab Managed Accounts Marketplace 

Two of Lyons Wealth Management's investment strategies are now available to financial advisors on the Schwab Managed Account Marketplace.

The strategies are the Lyons Tactical Allocation Portfolio, which "seeks to capture more upside in bull markets by staying fully invested more continuously and minimizing the frequency of defensive shifts in volatile markets," and the Lyons Income Overlay, designed for investors who own a large concentrated position in a single stock, the Winter Park, Florida-based Lyons said in its announcement.

The Lyons Income Overlay program is "intended to generate additional income without trading the underlying shares, either directly or through options, the company said.

Check out last week's portfolio product roundup here: John Hancock Model Portfolios Added to Envestnet Platform: Portfolio Products.