West Michigan's NPF Advisors Blends Tradition with ETF Innovation

GRAND RAPIDS, MI – March 12, 2026 – NPF Investment Advisors, a firm with roots in West Michigan stretching back to 1933, made a significant leap into modern finance today with the launch of its first actively managed exchange-traded fund (ETF). The NPF Core Equity ETF, trading under the ticker NPFE, began its life on Cboe Global Markets, marking a pivotal moment for the nearly century-old wealth management firm.

The move positions NPF as one of the first investment firms in its region to create and launch its own actively managed ETF, a vehicle that combines the firm's long-standing investment principles with the flexibility, accessibility, and tax advantages that have fueled the explosive growth of ETFs. For a firm built on generations of personal relationships and tailored wealth strategies, the launch of NPFE is not just the introduction of a new product, but a strategic evolution designed to meet the complex needs of today's investors.

A Legacy of Discipline Meets a Modern Wrapper

Since its founding during the Great Depression, NPF Investment Advisors has cultivated a reputation for disciplined, research-driven investing. The firm’s philosophy has always centered on identifying high-quality companies with durable competitive advantages, strong and consistent cash flows, and a track record of reliable, growing dividends. The new NPF Core Equity ETF is built upon this exact same foundation.

Managed by NPF's in-house investment team, NPFE will not rely on passive indexing or outsourced management. Instead, it will employ the firm's signature bottom-up security selection process, blending investments in stable, established "blue-chip" firms with opportunities in companies poised for long-term growth. This approach mirrors the core tenets of NPF's successful "Blue Chip Income" and "Core Growth" strategies, which have guided its clients' portfolios for decades. The key difference is the delivery mechanism: a publicly traded, transparent, and often more tax-efficient ETF wrapper.

"Putting our clients first is what drives every decision we make," said Chad Dutcher, a partner at NPF Investment Advisors, in the company's announcement. "We launched this ETF to give clients a more tax-efficient way to invest—a solution designed squarely around their long-term needs."

Riding the Wave of Active Management

NPF's launch of NPFE is not happening in a vacuum. It arrives amidst a seismic shift in the investment world, where actively managed ETFs are rapidly gaining favor over their passive, index-tracking counterparts. The global market for active ETFs swelled to nearly $1.8 trillion by the end of 2025, with a staggering 83% of all new ETF launches in the United States last year being actively managed.

This trend is fueled by several factors. In the face of recent market volatility, investors are increasingly seeking strategies that can adapt to changing conditions and potentially outperform a static benchmark. Active managers have the flexibility to adjust portfolio holdings, manage risk, and capitalize on opportunities that a passive index fund, by its nature, cannot. Furthermore, the ETF structure itself offers inherent benefits, including intraday trading, transparency, and, most notably, greater tax efficiency compared to traditional actively managed mutual funds.

By launching NPFE, NPF is tapping directly into this powerful industry current. The firm is betting that investors will see value in combining the potential for alpha generation—the hallmark of active management—with the structural advantages of an ETF. It represents a calculated move by a regional firm to participate in a national trend, leveraging its core competency in stock selection within a modern, in-demand framework.

A Strategic Tool for Tax-Efficient Wealth Growth

Perhaps the most compelling aspect of the new ETF is its sharp focus on tax efficiency, a cornerstone of NPF's wealth management practice. The firm has explicitly designed the fund as a tool to address a common and significant challenge for long-term investors: managing large, embedded capital gains in taxable accounts.

A key part of this strategy involves leveraging a provision of the U.S. tax code known as Section 351. For eligible investors holding highly appreciated individual stocks, NPF's structure allows for a potential "in-kind" transfer of those shares into the NPFE fund. This maneuver can allow an investor to exchange a concentrated stock position for a diversified stake in the ETF without immediately triggering a taxable event. This tax-deferred exchange provides a powerful solution for diversifying a portfolio, reducing concentration risk, and postponing a significant tax bill.

This sophisticated approach underscores that NPFE is more than just an accessible investment product; it is an integrated component of a holistic wealth management strategy. It directly addresses the needs of high-net-worth individuals and families who NPF has served for decades, offering a modern solution to the age-old problem of growing wealth in a tax-conscious manner.

A Strategic Debut on a Global Stage

The choice to list NPFE on Cboe Global Markets is another strategic element of the launch. Cboe has established itself as a premier exchange for exchange-traded products, particularly for innovative and actively managed funds. Its global listing network and robust support systems provide issuers like NPF with the infrastructure needed to reach a broad investor base.

For NPF Investment Advisors, this launch represents a bold step forward. It demonstrates an ability to adapt and innovate while remaining true to the client-first, research-intensive philosophy that has been its hallmark for nearly a century. By blending its legacy of trust with a forward-thinking investment vehicle, the Grand Rapids firm is not only enhancing its offering for existing clients but also positioning itself as a leader in the evolving financial landscape of West Michigan and beyond. The NPFE ETF is a clear signal that even the most established firms can, and must, evolve to serve the next generation of investors.