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. 

Vanguard Announces Cash Distributions for ETFs 

Vanguard Investments Canada Inc. announced the final June cash distributions for certain Vanguard ETFs that trade on the Toronto Stock Exchange. Unitholders of record on June 30 will receive cash distributions payable on July 10.