Products June 2, 2009

Pershing Adds Three Fund Companies to FundVest

Pershing said it has added Neuberger Berman, The Hartford Mutual Funds, and T. Rowe Price to FundVest, Pershing's mutual fund platform.
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Mutual funds from these financial organizations are now available to Pershing’s introducing broker/dealer customers, and to independent registered investment advisers (RIAs) through Pershing’s affiliate, Pershing Advisor Solutions.

FundVest offers investors access to more 3,000 mutual funds, managed by more than 200 fund companies, according to a news release from Pershing, a subsidiary of The Bank of New York Mellon Corporation. Through FundVest, investors can buy, sell, or exchange an array of load and no-load mutual funds without incurring regular transaction fees.

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Products June 2, 2009

Pershing Adds to SMA Offering for RIAs

Pershing said it expanded its suite of managed account solutions to provide advisers with access to a diverse list of money managers and a broad spectrum of managed account tools and services.
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Pershing, a subsidiary of The Bank of New York Mellon Corporation, said its product updates will give advisers in transition solutions designed to streamline the administrative aspects of transitioning their existing managed account business to a new organization. Those capabilities include Web-based account tracking and maintenance tools, consolidated quarterly and on-demand performance reporting, and fee billing and payment services, according to a Pershing release.

The solutions are sponsored by Pershing’s affiliate, Lockwood Advisors, Inc., and are a component of Pershing Managed Account Solutions, which encompasses all of the fee-based advisory services available through the Pershing platform.

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These new solutions are available to registered investment advisers (RIAs) and advisers in transition who associate with an independent registered investment advisory firm that is a customer of Pershing’s affiliate, Pershing Advisor Solutions. Investment professionals and advisers in transition associated with an introducing broker/dealer firm that is a Pershing customer will be able to access the capabilities this summer, the firm said.


 

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