Exchange-trade funds got a boost in the prestige department, as former Securities and Exchange Commissioner Chairman Arthur Levitt joins WisdomTree Investments, an upstart in the booming ETF industry. Hired as an adviser, Levitt, who left the SEC five years ago after a record tenure of 7½ years, says he will spend his time speaking to groups about the funds and the firm. Professor Jeremy Siegel of The Wharton School, also a WisdomTree adviser, told USA Today that Levitt’s arrival should help the firm, which launched 20 ETFs in June, attracting $400 million in assets so far. “People like to be associated with people they trust,” Siegel says.
