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Advisory SolutionsFirm Update

Reminder: 2nd Quarter 2024 Alternative Mutual Fund Lists are Available

By August 14, 2024No Comments

Alternative mutual funds are screened based on various due diligence criteria.  To assist with what funds may be purchased, there is an Alternative Mutual Fund Available, Restricted and a Watch List which are updated quarterly and may be found on the Agent Portal>Products>Investment Products>Mutual Funds. 

  • The Approved List is a list of approved alternative mutual funds that may be purchased (once training has been completed).
  • The Watch List is a list of alternative mutual funds that the Firm is watching to determine if they may become prohibited in the future due to failing consecutive screens, (two consecutive quarters). If you recommend purchases on the list, please be aware that they may no longer be approved to purchase in the future.
  • The Restricted List is the list of prohibited alternative mutual funds.
    • BROKERAGE: If an attempt to purchase is ma de in a brokerage account, the purchase will be blocked.
    • DIRECT: If purchased in a direct, mutual fund, you will be contacted by Compliance after to work with your client to have any new investments directed to a non-alternative mutual fund or to one of the approved alternative mutual funds. 
    • REMOVED FROM APPROVED LIST:If a fund is removed from the Available list (brokerage or direct), Compliance will contact you to let you know that the fund is no longer available for purchase and to work with your client to have any new investments directed to a non-alternative mutual fund or to one of the approved alternative mutual funds. 

TRAINING

Prior to purchasing approved alternative mutual funds, you must first complete required training.  Reps should reach out to ESICompliance@nationallife.com to inquire about taking the alternative mutual fund training course.  Compliance will then assign a profile in RegEd.  Reps then log into Reg Ed, order the required course, FINRA: Alternative Mutual Funds (EL_ELC251) and complete it.  They would then submit their completion certificate to ESITrading@nationallife.com Once you have completed the course, please email your completion certificate to ESITrading@NationalLife.com and this training will be added to your profile.

Questions

If you have any questions or concerns regarding the alternative mutual fund lists, please contact ESI at 800-344-7437.

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