Investment Product and Service Launches

EP Wealth Introduces Scholarship Promoting Diversity in Financial Services

EP Wealth Advisors LLC has launched the first annual Ballou/EP Wealth Diversity in Financial Services Scholarship, a one-time award for students pursuing a Certified Financial Planner certification.

The scholarship is named in honor of Lynn Ballou, a former senior vice president and partner at EP Wealth who retired in June 2022, with the goal of continuing Ballou’s mission of promoting diversity in the financial services industry.

“We believe that diversity of thought and background is vital to creating a more inclusive financial planning profession, while also yielding a better experience for all investors,” said Ballou in a statement. “We take this responsibility seriously, and this scholarship will help break down barriers for underrepresented groups pursuing careers in this field.”

The scholarship’s initial funding comes from the company. EP Wealth employees, clients and friends of the firm have the opportunity to contribute for future awards. U.S. residents who are enrolled in a CFP Board-registered certificate or undergraduate program are eligible to apply for the scholarship program.

Vanguard Launches Short-Term Tax-Exempt Bond ETF

Vanguard launched a new exchange-traded fund, the Vanguard short-term tax-exempt bond ETF, managed by Vanguard Fixed Income Group. The new municipal bond index ETF will serve tax-sensitive investors with a short-term time horizon and low interest-rate risk tolerance.

“Vanguard short-term tax-exempt bond ETF is built to optimize tax efficiency for investors seeking to allocate to the shorter end of the municipal bond market,” said Sara Devereux, global head of Vanguard’s fixed income group, in a statement. “The new ETF complements our broad fixed income lineup and provides clients with another avenue to tap our municipal bond team’s talent and capabilities.”

The Vanguard short-term tax-exempt bond ETF predominantly invests in short-term investment grade municipal bonds and will track the S&P 0-7 Year National AMT-Free Municipal Bond Index. The ETF has an expense ratio of 0.07%, compared to 0.56% for the average short-term bond fund.

Lincoln Financial Group Further Enhances MoneyGuard Suite

Lincoln Financial Group will enhance its MoneyGuard suite with the introduction of real-time underwriting capabilities and the expansion of Lincoln MoneyGuard Market Advantage into California.

With real-time approval, clients can receive immediate communication of an underwriting approval following an online or phone interview. Qualifying clients could find out their application has been approved in as little as 20 minutes from the start of their interview.

In addition to real-time approval, Lincoln expanded the reach of MoneyGuard Market Advantage to California. The product provides growth potential for both long-term care and death benefits through investment option performance. Clients can also receive downside protection with annual lock-ins and a guaranteed minimum level of long-term care benefits.

“Each long-term care journey is unique and impacts both clients and their loved ones. We understand that clients value flexibility and we strive to meet them and their advisors where they are from time of application to paying for long-term care expenses,” said Michael Hamilton, Lincoln Financial’s vice president and head of MoneyGuard solutions, in a statement.