Where Options Fit for Advisors

Ben Carlson spoke with Will Bergen, Managing Director, Client Portfolio Manager, Canvas Managed Options at Franklin Templeton. They broke down how a Canvas Managed Options program can help advisors use managed options strategies to address real-world client needs. They explored how covered-call and hedged-equity strategies work, what investors are giving up in exchange for income or protection, and why an options overlay can offer a different solution than simply reducing a client’s equity allocation. (Listen)

A lot has already been written about Vanguard’s acquisition of Altruist for a reported $4.6 billion. (You can find more links below). The most interesting aspect is how this gets Vanguard into the RIA custody business and now puts pressure on Fidelity and Schwab to step up their game. After Schwab purchased TD Ameritrade the custody business has effectively been a duopoly. That is now seemingly over.

It’s easy to be cynical and view the proposed ETFs that would track the performance of NHL teams during the season as a sideshow or distraction. Nadig argues that we as a country (and industry) are going down a really slippery slope. Retail traders are already losing big time on leveraged single stock ETFs. The existential risk is that we kill the golden goose of well-regulated, highly functional markets to accommodate and encourage degenerate activity.