Scottrade is seeking to launch a set of low-cost exchange-traded funds (ETF), The Wall Street Journal reports. The discount brokerage firm will unveil proprietary domestic-equity funds that will track 15 Morningstar indexes, covering the U.S. broad market, small-, mid- and large-cap stocks and 11 separate sectors. Scottrad will also provide commission-free trades to its clients and investment advisers, who custody their assets at the firm. It will launch the Focus Morningstar ETFs through its FocusShares subsidiary, which will be the portfolio sponsor.
Click here for the story from The Wall Street Journal.