U.S. veterans launch ETP-focused firm

Three industry veterans have founded a New York-based investment advisory firm, called Toroso Investments.

Larry Medin serves as its CEO, while Dan Carlson acts as CFO and Michael Venuto as CIO.

The firm will focus on research and asset management using ETFs and other exchange traded products. The advisors plan to use ETPs to access multiple asset classes, and will focus on private wealth management, corporate clients, and pension and defined contribution retirement accounts.

The firm was launched in response to the alleged poor performance of portfolios following modern portfolio theory. It will use ETPs to access asset allocation strategies intended to perform well in all economic climates.

Read: ETF market: Challenges and opportunities

“ETPs offer transparency in holdings, cost efficiencies, and access to markets in an efficient manner,” says Sue Thompson, head of the iShares registered investment advisor/asset management group at BlackRock.

She adds, “They offer clients institutional quality portfolios and product innovation that once were too expensive or inaccessible.”

Read: The target remains the same Medin has more than 35 years of experience, having previously held senior executive roles in distribution, policy, and management at Avatar Associates, Bank of America, Alliance Capital Management, and MetLife-State Street Investment Services.

Carlson has more than 30 years of experience. Prior to his last positions at Avatar Associates and Lincoln Financial, he was a consultant for Fortune 500 companies.

Venuto has 12 years experience and was previously a senior vice president at Horizon Kinetics. As CIO of Toroso, he provides portfolio optimization services to institutional clients on behalf of Global X Funds.

Read: Where ETFs win

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.