August 29, 2016
JERSEY CITY, N.J. – August 29, 2016 –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.
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.
1Lockwood is the discretionary manager of the third party model portfolios and the WealthStart portfolios.
2Lockwood 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.
About BNY Mellon's Pershing
BNY Mellon’s Pershing and its affiliates provide advisors, broker-dealers, family offices, hedge fund and ’40 Act fund managers, registered investment advisor firms and wealth managers with a broad suite of global financial business solutions. Many of the world’s most sophisticated and successful financial services firms rely on Pershing for clearing and custody, investment and retirement solutions, technology, enterprise data management, trading services, prime brokerage, managed account technology and operations and business consulting. Pershing helps clients improve profitability and drive growth, create capacity and efficiency, attract and retain talent, and manage risk and regulation. With a network of offices worldwide, Pershing provides business-to-business solutions to clients representing more than seven million investor accounts globally. Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company. Professionally advised managed accounts are offered through its affiliate, Lockwood Advisors, Inc., which is an investment adviser registered in the United States under the Investment Advisers Act of 1940. 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 and wealth management and investment services in 35 countries. As of June 30, 2020, BNY Mellon had $37.3 trillion in assets under custody and/or administration, and $2.0 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.