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Rating:USAA Plants its Flag on NTF Soil Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, September 24, 2010

USAA Plants its Flag on NTF Soil

Reported by Armie Margaret Lee

USAA Investment Management [see profile] is making a push into no-transaction-fee supermarkets. Earlier this month, 18 of USAA's mutual funds landed on E*Trade, marking the first time that USAA joined an NTF platform. [see story]

Brooks Englehart
Manager of Investment Products
"We are in discussions with five other NTF platforms right now," said Brooks Englehart, manager of investment products at San Antonio, Texas-based USAA, in an interview with The MFWire.com on Friday. "We are in various stages of conversations."

USAA's funds are also available on the transaction-fee platforms at TD Ameritrade and Vanguard.

"We've spent a lot of time listening to our members," Englehart said. "The voice of the membership base spoke to us loud and clear that there's an interest. This prompted us to get placement on the NTF side."

The firm's mutual funds are open to all investors, not just USAA members.

The membership base consists of 7.7 million members and veterans of the U.S. military and their families. Among USAA's broad set of offerings, the property and casualty insurance products and some lending products are restricted to members. 

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