Summit, New Jersey-based ETF Managers Group
, a private label issuer of exchange traded funds, launched its own FINRA-registered broker dealer to provide distribution services to its family of ETFs.
| Sam Masucci|
ETF Managers Group
Founder & Chief Executive Officer
replaced the previous Alps Distributors
on April 1. A representative from Alps declined to comment.
“We felt we could better serve everyone by bringing distribution in-house,” Samuel Masucci
, chief executive officer and founder of ETF Managers Group, tells MFWire
"Since we design and operate our funds, we have a high degree of knowledge and more responsive marketing and education material," Masucci explains. "And having that knowledge, experience and close relationship helps."
ETF Managers Group was created five years ago. The firm now has 14 employees, 16 ETFs and around $1.4 billion in AUM.
The timing for this move is right and it makes sense to grow the firm vertically, Masucci says.
The ETF Managers Group funds utilizing the new broker dealer are: the PureFunds family of ETFs (HACK, BIGD, FINQ, GAMR, IFLY, IMED, IPAY and SILJ); Etho Climate Leadership U.S. ETF (ETHO); Sit Rising Rate ETF (RISE); Spirited Funds/ETFMG Whiskey & Spirits ETF (WSKY); BlueStar TA-BIGITech Israeli Technology ETF (ITEQ); and Tierra XP Latin America Real Estate ETF (LARE).
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