Source: Bank of New York Mellon
Pershing, a subsidiary of The Bank of New York Mellon Corporation, announced today that it has launched Lockwood AdvisorFlex Portfolios (AdvisorFlex), a new and innovative unified managed account program for financial advisors.
The program is a component of Pershing Managed Account Solutions and is offered through Pershing's affiliate, Lockwood Advisors, Inc. (Lockwood).
The AdvisorFlex program, which leverages the resources and experience of Lockwood and Standard & Poor's Investment Advisory Services LLC (SPIAS), provides advisors with choice and flexibility in tailoring investor portfolios by allowing them to use a selection of suggested investments or substitute pre-screened alternatives. AdvisorFlex combines investment research and model allocations from SPIAS, with ongoing investment review and oversight from Lockwood, and enables advisors to offer their clients a selection of professionally managed portfolios designed to meet a wide variety of investment objectives. The program's portfolios are diversified at the asset class level and among different security types.
Jim Seuffert, chief executive officer of Pershing Managed Account Solutions, said, "Today's advisors find themselves juggling the competing demands of prospecting for new business and providing day-to-day investment oversight for their clients' portfolios. AdvisorFlex offers our customers a highly disciplined portfolio construction and management process that will help them maximize their productivity and grow their practices."
Larry Neal, executive managing director of Standard & Poor's Equity Research, added, "Pershing offers one of the industry's most comprehensive suites of managed account solutions for financial institutions and independent registered investment advisors. We are pleased to collaborate with the team at Lockwood to provide advisors with access to our model portfolios and independent investment research through the AdvisorFlex program."
Pershing Managed Account Solutions provides introducing broker-dealer firms, investment professionals and independent registered investment advisors with access to a comprehensive suite of managed account solutions and services. It encompasses all of the fee-based advisory services available through the Pershing platform, including Lockwood's turnkey and customized managed account offerings and industry-leading solutions from third-parties via Pershing's Managed Account Network and Managed Account Direct platforms.