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BNY Mellon

BNY Mellon’s Lockwood Adds 54 Model Portfolios

BNY Mellon’s Lockwood Advisors nearly doubled the number of strategists and portfolios available to advisors.

BNY Mellon’s Lockwood Advisors, a bank subsidiary that offers managed accounts solutions, said on Wednesday that it made an additional 54 new model portfolios available to advisors, including some from Goldman Sachs and J.P. Morgan Asset Management.

The new portfolios bring the total number of third-party models to 123 and the number of strategists to 13, the bank said.

“We are focused on bringing our clients a diverse, yet select, menu of choices,” Lockwood Advisors Chief Investment Officer Matthew Forester said in a statement. “We believe these highly competitive and well-rounded additions to our program will help financial professionals meet a broad range of investor needs through various market cycles.”

Strategists new to the program are First Trust, Goldman Sachs Asset Management, J.P. Morgan Asset Management, New Frontier and S&P Investment Advisory Services. The dozens of new models added cover a range of strategies, objectives and risk levels. 

Some use solely ETFs while others don’t. The J.P. Morgan Asset Management models, for example, combine the firm’s strategic beta ETFs, third-party ETFs and some of JPMAM’s traditional active mutual funds.

Lockwood also added 11 new BlackRock Target Allocation model portfolios, making the total available from the asset management behemoth to 20.

Advisors use services like Lockwood’s Managed360 program to scale the more high-touch-managed account offerings to clients. For tax, strategic and other reasons, managed accounts in which clients own individual securities rather than a fund or ETF, it can be an attractive offering. But managed accounts can also be labor intensive. Lockwood also gets advisors access to investment managers, independent research on separate account managers, and acts as an overlay manager by managing accounts based on third-party models.

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