23 May 2018

Pershing expands managed account suite for registered investment advisors

02 June 2009  |  2202 views  |  0 Source: Pershing

Pershing, a subsidiary of The Bank of New York Mellon Corporation (NYSE: BK), announced today that it has expanded its suite of managed account solutions for independent registered investment advisors (RIAs) and advisors in transition.

These new capabilities provide advisors with access to a diverse list of industry-leading money managers and a broad spectrum of managed account tools and services to help them better serve their clients.

Pershing's expanded separately managed account platform provides RIAs and advisors in transition with a broader array of existing money managers to choose from and the flexibility to add new money managers to accommodate their businesses. The enhanced offering also provides advisors in transition with a wide range of solutions that are designed to streamline the administrative aspects of transitioning their existing managed account business to a new organization so they can continue to focus on building and strengthening client relationships. These capabilities include extensive web-based account tracking and maintenance tools, consolidated quarterly and on-demand performance reporting, and fee billing and payment services.

The solutions are sponsored by Pershing's affiliate, Lockwood Advisors, Inc. (Lockwood) and are a component of Pershing Managed Account Solutions, which encompasses all of the fee-based advisory services available through the Pershing platform. This includes Lockwood's turnkey and customized managed account offerings and industry-leading solutions from third-parties via Pershing's Managed Account Network.

These new solutions are available to RIAs and advisors in transition who associate with an independent registered investment advisory firm that is a customer of Pershing's affiliate, Pershing Advisor Solutions LLC. Investment professionals and advisors in transition associated with an introducing broker-dealer firm that is a customer of Pershing LLC's will be able to access these capabilities this summer.

Jim Seuffert, chief executive officer of Pershing Managed Account Solutions, said, "Many RIAs and advisors in transition have large, established books of managed account business. It is critical that they have access to tools and services that enable them to provide their clients with best-of-breed managed account solutions to help them achieve their financial goals. With Lockwood serving as program sponsor, our platform offers advisors a wide range of best-in-class money managers, the convenience of a bundled fee structure and a comprehensive set of support services, which are designed to help them grow their businesses."

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