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.
Reported by

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.


 

Deals & People June 2, 2009

Arnerich Massena Announces Director of Wealth Management

Portland, Oregon-based independent investment consulting firm Arnerich Massena&Associates, Inc., brought on David Reichle as director of Arnerich Massena Wealth Management.
Reported by

The firm said Reichle will direct the growth and strategic direction of the wealth management practice, in addition to his role as consultant to client portfolios. He will also be a member of the investment committee.

Prior to joining Arnerich Massena, David Reichle was President of Pacific Investment Advisors, a Portland-based wealth management firm he founded in 1997, according to a news release. He also previously served as a vice president in Bank of America’s commercial group in Portland.

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Arnerich Massena & Associates is a West Coast-based independent investment management and education consulting firm that offers services to corporations, institutions, state and local governments, charitable organizations, trusts and estates, corporate pension and profit-sharing plans, and private clients. The firm said it advises more than $12 billion in assets.

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