The political scene is, arguably, increasingly chaotic and unpredictable. So it seems an odd time to launch a new suite of actively managed ETFs that seek to profit from the implementation of the policies of either dominant political party. Yet EventShares has unveiled the first family of funds designed to do just that. The EventShares Republican Policies Fund (GOP) and the EventShares Democratic Policies Fund (DEMS) “seek to construct portfolios expected to be positively affected by each respective party’s policies. Both seek to provide capital appreciation by unlocking value from policy-driven events and themes. Neither fund seeks to replicate the performance of a specific index,” according to the release. The asset manager also launched the EventShares U.S. Tax Reform Fund (TAXR), which “seeks to provide exposure to those companies that are poised to see the greatest benefit from the implementation of significant tax reform in the U.S.” More event-driven ETFs may be forthcoming, according to the company.
Family Team Jumps Ship from NPC to Woodbury
National Planning Corporation just lost another advisor team in the wake of its parent National Planning Holdings being sold to LPL Financial. Fond du Lac, Wis.-based Feucht Financial Group, an advisory with more than $430 million in client assets, has joined Woodbury Financial Services after 16 years with NPC. Woodbury has added 74 advisors so far this year, while the larger network Advisor Group has recruited more than 300. Mark Feucht, who founded the firm in 1974, runs the practice with his sons, Jeremy and Chad Feucht, both military veterans who served in Iraq. The firm has a total of seven advisors, 3,000 clients and 21 employees. They provide comprehensive investment management as well as insurance, tax, accounting and estate planning.
Allied World Assurance Company, GmbH and Hudson Structured Capital Management have partnered to develop Vault, a personal insurance coverage venture for high-net-worth clients. Vault will offer insurance coverage and services for high-value homes, art, jewelry and personal excess liability coverage. Charles Williamson, the former CEO of Tower Hill Insurance Group who also previously oversaw AIG's Private Client business, will serve as Vault CEO, Allied World CEO Scott Carmilani announced. “We believe there is an underserved market in the high-net-worth space, and Vault will help to meet the demand for these coverages and specialized services,” he said.