JERSEY CITY, N.J., Aug. 29, 2016 /PRNewswire/ -- Pershing LLC,
a BNY Mellon company, today announced the launch of new mutual fund
and exchange-traded fund (ETF) solutions, offered by its affiliate,
Lockwood Advisors, Inc. (Lockwood). These will meet the needs of
investors starting to build wealth and help registered reps
navigate the Department of Labor's (DOL) fiduciary rule
requirements.
Pershing's new Lockwood
WealthStart™ Portfolios1 mutual fund
and ETF offering, along with new solutions provided by third-party
providers, both feature a diverse range of asset allocation
strategies and a minimum balance of $10,000.
These portfolios include a number of asset allocation strategies
targeted at investors with varying risk profiles. The strategies
can be accessed through diversified risk-based model portfolios
from some of the industry's leading firms, including Pershing
affiliate Lockwood.
"These flexible mutual fund and ETF solutions demonstrate our
ongoing commitment to providing financial professionals with the
tools they need to navigate the evolving regulatory landscape and
grow their business," said Joel
Hempel, chief operating officer of Lockwood. "They may also
assist registered reps who are considering a transition from a
commission-based brokerage model to fee-based advisory
relationships."
The new offering is fully integrated into Pershing's flagship
NetX360® professional platform, and advisors can access them
through Lockwood's turnkey managed account solution,
Managed360™2 or by using Pershing's managed
investments platform.
"Emerging and mass-affluent investors can now have greater
access to professionally managed investment solutions," said
Hempel. "These investors represent a large, often underserved
market. By offering a suite of diversified risk-based portfolios to
this segment, advisors and registered reps can serve new clients
and take advantage of cross-generational opportunities."
Looking ahead, Lockwood will continue to evaluate managers to
participate in its third-party offerings to provide more
opportunity for financial professionals to grow their business and
for investors to accumulate wealth.
To learn more about these solutions, or for more information
about Lockwood, call (800) 200-3033, option 3.
About Lockwood Advisors, Inc.
Lockwood Advisors, Inc. is a leading provider of managed account
solutions. As a program sponsor, Lockwood offers access to some of
the industry's leading investment managers, provides independent
research on separate account managers, and develops advisory
solutions to help investment professionals meet the diverse needs
of their clients. Lockwood also offers discretionary portfolio
management solutions through financial institutions and independent
registered investment advisers. Lockwood Advisors, Inc. is an
investment adviser registered in the
United States under the Investment Advisers Act of 1940, an
affiliate of Pershing LLC and a wholly owned subsidiary of The Bank
of New York Mellon Corporation (BNY Mellon).
About Pershing
Pershing and its affiliates provide global financial business
solutions to advisors, asset managers, broker-dealers, family
offices, registered investment advisor firms and wealth managers. A
financial services firm located in 23 offices worldwide, Pershing
provides business-to-business solutions to clients representing 6
million active investor accounts on the U.S. platform. Pershing
affiliates are members of every major U.S. securities exchange, and
its international affiliates are members of the Deutsche Börse,
Australian Stock Exchange, Irish Stock Exchange, London Stock
Exchange and Toronto Stock Exchange. Pershing LLC (member
FINRA/NYSE/SIPC) is a BNY Mellon company. Additional information is
available on pershing.com, or follow us on Twitter @Pershing.
About BNY Mellon
BNY Mellon is a global investments company dedicated to helping
its clients manage and service their financial assets throughout
the investment lifecycle. Whether providing financial services for
institutions, corporations or individual investors, BNY Mellon
delivers informed investment management and investment services in
35 countries and more than 100 markets. As of June 30, 2016, BNY Mellon had $29.5 trillion in assets under custody and/or
administration, and $1.7 trillion in
assets under management. BNY Mellon can act as a single point of
contact for clients looking to create, trade, hold, manage,
service, distribute or restructure investments. BNY Mellon is the
corporate brand of The Bank of New York Mellon Corporation (NYSE:
BK). Additional information is available on www.bnymellon.com.
Follow us on Twitter @BNYMellon or visit our newsroom at
www.bnymellon.com/newsroom for the latest company news.
1 Lockwood is the discretionary
manager of the third party model portfolios and the WealthStart
portfolios.
2 Lockwood is the sponsor of Managed360, a wrap fee
program for which it provides investment advisory and overlay
services. Pershing is not a registered investment adviser and does
not offer investment advisory products, programs or services.
Pershing provides wholesaling support, proposal generation and
billing services.
Contact:
Anthony Sicoli
(201) 413-3198
anthony.sicoli@pershing.com
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SOURCE BNY Mellon