“When they offer these other types of services – face-to-face retail brokerage, for example – many customers will come to their credit union for those services just because of the trust factor. “Consumers’ trust with their credit unions is very high,” he says. Henry is confident that the folios will catch on at credit unions. The goal is to offer the service through 200 credit unions within six months and more than 500 within two years. “Some of the credit unions are big, but obviously not as big as the largest bank holding companies,” he says.įoliofn’s services, which will be called Members Folio Investing, will be added to the e-commerce side of Members Development, which already has online relationships with 900 credit unions. Henry, also Cuna’s vice president of sales, says that Members Development helps credit unions deliver some of the services that large banks and brokers routinely offer. The repeal effectively lets insurance companies, banks and brokerage companies compete on one another’s turf. “Credit unions have entered this brave new world of financial services,” says John Henry, president and CEO of Members Development, referring to the 1999 repeal of the Glass-Steagall Act of 1933. The partnership with Cuna will also benefit credit unions, which are looking for ways to broaden their offerings to better compete with other financial companies. Its marquee product, Folio Investing, is pitched as a way to combine the diversification benefits of mutual funds with direct stock ownership while avoiding the high expense ratios and capital gains tax hits of many mutual funds. Wallman, a former member of the Securities and Exchange Commission. It will offer Foliofn’s services through Members Development Co., which was formed last year by Cuna, and 37 credit unions to better serve the credit union industry with financial services.įoliofn is headed by Steven M.H. “It gives the company a way to market its products to a large number of people.”Ĭuna provides financial products such as insurance and brokerage services to about 95% of the nation’s 10,700 credit unions. “This is a really smart move for Foliofn,” says Scott Berry, an analyst with Morningstar Inc., the Chicago fund tracker. The move will put its services in front of millions of credit union customers. of Vienna, Va., which offers online prefab or custom-made stock portfolios, formed a partnership last month with Cuna Mutual Group of Madison, Wis. The firm also provides an extra level of coverage from Lloyd’s of London for an additional $150 million in securities and up to $1.15 million in cash.Foliofn Inc. Schwab is also a leader in technological innovation, which allows us to manage portfolios with efficiency and precision.Īll Schwab accounts are protected by the Securities Investor Protection Corporation (SIPC) for up to $500,000 in securities including $250,000 in cash. Schwab provides cost-efficient access to the wealth management and investment products our clients need, with the financial safety & security that is crucial in today's economic environment. Schwab is the largest provider of dedicated custodial services to the independent investment advisor community, & offers investors a variety of advantages such as the convenience of local branches, specialized institutional trading, banking, trust and pension services, cash management tools, and 24-hour online account access. Schwab Institutional is a pioneering firm with a long history of working exclusively with independent financial advisors. The professionals of WCM's financial planning, operations, trading, & portfolio management teams provide TCWC and our clients an outstanding experience & first-class service. WCM also acts as a registered investment advisor overseeing $5 billion in assets under management through its network of financial advisors or third-party financial advisory firms. The Company operates its technology licensing business serving the clients of advisors who are affiliated with both independent financial services & Fortune 500 companies. & International patents for its wealth management system. The company holds several groundbreaking U.S. WCM’s patented, goal-based advising approach allows advisors to give their clients measurable confidence in exceeding their goals without unnecessary sacrifice to their lifestyle, while avoiding undue investment risk. Founded in 1999, Wealthcare Capital Management (WCM) LLC is a pioneer of goals-based wealth management technology powering the future of financial advising through a suite of asset management & advising services.
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