CliftonLarsonAllen Wealth Advisors (CLA) put out a release today on the formation of the partnership that led to launch of its first private label mutual fund.
CLA teamed with Academy Asset Management to launch Innovator Management LLC, which searches for innovative asset management firms to sub-advise its products.
The MutualFundWire previously reported on the launch of the venture's first offering, the Innovator Matrix Income Fund, which debuted on January 31, 2012. The fund is sub-advised by TMFS, a subsidiary of Copell Financial. The release notes this fund now counts more than $50 million in assets.
Company Press Release
MILWAUKEE (April 3, 2012)— CliftonLarsonAllen Wealth Advisors, LLC, a wholly owned company of CliftonLarsonAllen LLP, is pleased to announce a new joint venture with Academy Asset Management LLC. The joint venture is Innovator Management LLC, and the first order of business for the entity has been the launch and management of a mutual fund focused on pass-through securities.
The fund, Innovator Matrix Income Fund (IMIFX), began trading on January 31, 2012, and already exceeds $50 million in assets under management. Innovator is thrilled to see the positive response the fund has enjoyed to date and we look forward to continuing to execute on our strategy as we build on this significant benchmark.
IMIFX provides mutual fund investors access to the Matrix Income strategy previously available only through separately managed accounts with significant minimum balances. This affiliation is a proactive step in providing a new investment opportunity in a low-yield market.
“Given the historically low interest rates in the current market environment, we believe our clients and prospective clients are having some difficulty finding adequate income in traditional investments,” said Tony Hallada, chief executive officer of CliftonLarsonAllen Wealth Advisors. “They need alternative income solutions, which is why we’ve chosen to bring the Matrix Income approach to all investors.”
Pass-through securities are assets managed by entities that “pass-through” a majority of their operating profits directly to their unit holders while avoiding taxes at the corporate level. They include Master Limited Partnerships (MLPs), Royalty Trusts, Real Estate Investment Trusts (REITs), Business Development Companies (BDCs), and Closed-end Funds (CEFs).
Though other pass-through mutual funds exist, many tend to target specific sectors. The Matrix Income style adapts to different phases of the economic cycle using the full spectrum of pass-throughs – depending upon the outlook for growth, interest rates, and inflation. All the pass-through securities included in the new fund are listed on U. S. exchanges and are traded daily.
For more information about the Innovator Matrix Income Fund, please review the fund prospectus at www.innovatorfunds.com.
About Innovator Management LLC
Innovator Management LLC serves as the advisor to the Innovator Funds. Innovator’s goal is to bring talented portfolio managers with distinctive and seasoned investment strategies to the mutual fund marketplace.
About CliftonLarsonAllen Wealth Advisors, LLC
CliftonLarsonAllen Wealth Advisors, LLC, a Registered Investment Advisor, offers private wealth advisory services, including asset management and investment planning; strategic financial and retirement planning; estate, gift, and income tax planning; divorce financial planning; business succession planning; sell-side representation of mergers and acquisitions; insurance and risk management; and employee benefit plan design, compliance, and consulting. The national wealth advisory practice is among the top five in the accounting profession with approximately 100 professionals and nearly $3 billion in assets under management. CliftonLarsonAllen Wealth Advisors, LLC is a wholly owned company of CliftonLarsonAllen LLP, one of the nation’s top 10 certified public accounting and consulting firms delivering assurance, tax, and advisory capabilities.
CliftonLarsonAllen is one of the nation’s top 10 certified public accounting and consulting firms. Structured to provide clients with highly specialized industry insight, the firm delivers assurance, tax and advisory capabilities. CliftonLarsonAllen offers unprecedented emphasis on serving privately held businesses and their owners, as well as nonprofits and governmental entities. The firm has a staff of more than 3,600 professionals, operating from more than 90 offices across the country. For more information about CliftonLarsonAllen, visit www.cliftonlarsonallen.com.