Company: Pershing
Category: Asset Managers – Separate Accounts
Initiative: Lockwood - Managed360
With the advent of trends such as technology-driven automation and fiduciary and fee-only arrangements between advisors and clients, mass affluent investors are increasingly interested in managed account offerings. Pershing, LLC and Lockwood Advisors. have responded to this shift by launching Managed360, a scalable managed account solution.
The platform offers an intuitive, seamless managed accounts experience for firms seeking a turnkey solution for advisors and clients. Advisors can offer solutions they believe are best suited to investors’ needs, generating product proposals in minutes. Managed360 offers an abundance of resources, including separately managed accounts with more than 500 different strategies, flexible mutual fund/ETF wraps and a stable of model portfolios from select third-party providers.
With this new offering, advisors can perform core functions and access key information without having to toggle between technology platforms, thereby streamlining their operations and gaining a unique competitive advantage.
Category: Custodians ($25 Billion or More) – Technology
Initiative: Pershing’s Retirement Plan Network
The growing retirement market demonstrates the need for an integrated, comprehensive retirement plan technology solution for broker-dealers, RIAs and advisors. With the Retirement Plan Network, Pershing has developed a platform to streamline the sales, servicing and custody of retirement plan business.
The Retirement Plan Network is integrated with NetX360, a mobile-friendly technology that provides a single access point for both individual and retirement plan business. This technology includes investment consulting tools, with access to more than 23,000 mutual funds and 1,600 ETFs; access to Retirement Model Manager, which offers proprietary and third-party-managed investment models; provider search and benchmarking materials; and participant education and fiduciary support resources.
In its first year, more than 2,300 retirement-focused advisors have accessed the Retirement Plan Network.
Category: Custodians ($25 Billion or More) -- Transition Support
Initiative: Integrating Three Custody Platforms for a Unified Experience
When a custodian exited the marketplace, HighTower needed a solution for brokerage and bank custody assets. Through its existing advisory custodian relationship with the wealth management firm, Pershing was able to create a specialized delivery model for HighTower.
Pershing’s model unifies three traditionally independent platforms: advisory, brokerage and bank custody. Now, one technology service allows assets to be moved among platforms, streamlining the experience for advisors and investors, who can access information from three seemingly different worlds.
Rather than relying on multiple custodians, Pershing’s solution aims to be a more efficient approach for investors and a cost-savings strategy for advisors. So far, approximately 4,000 investor accounts are linked to the solution.
About the Company
Pershing, a BNY Mellon company, and its affiliates provide global financial business solutions to advisors, asset managers, broker-dealers, family offices, fund managers, registered investment advisor firms and wealth managers. A financial services market leader located in 23 offices worldwide, we are uniquely positioned to provide advisors and firms global insights into industry trends, regulatory changes and best practices, as well as shifts in investor sentiment and expectations. Pershing provides solutions−including innovative programs and business consulting−that help create a competitive advantage for our clients.
For more information, please visit www.pershing.com.
LISA DOLLY
CEO, Pershing