Pershing Offers New Mutual Fund and ETF Solutions for Emerging and Mass-affluent Investors

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 is a leading provider of clearing and custody services. We are uniquely positioned to help complex financial services firms transform their businesses, drive growth, maximize efficiency, and manage risk and regulation.

Wealth management and institutional firms outsource to us for trading and settlement services, investment solutions, bank and brokerage custody, middle and back office support, data insights, and business consulting.

Pershing brings together high-touch service, an open digital platform and the BNY Mellon enterprise to deliver a differentiated experience for every client.

Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company. With offices around the world, Pershing has over $2 trillion in assets and millions of investor accounts. Pershing affiliates include Albridge Solutions, Inc. and Lockwood Advisors, Inc., an investment adviser registered in the United States under the Investment Advisers Act of 1940. Additional information is available on, or follow us on LinkedIn or 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, 2021, BNY Mellon had $45.0 trillion in assets under custody and/or administration, and $2.3 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 Follow us on Twitter @BNYMellon or visit our newsroom at for the latest company news.