Products June 25, 2008

Pershing Introduces Paperless Account Opening

Pershing LLC, a subsidiary of The Bank of New York Mellon Corporation, today introduced a paperless account opening solution for introducing broker/dealer firms, investment professionals, and registered investment advisers (RIAs).
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This new capability reduces the time and effort it takes to open new accounts and transfer assets by enabling advisers and RIAs to provide clients with online account opening documents that can be completed and authorized by utilizing an electronic signature feature, Pershing said. It also gives Pershing’s customers and their clients a cohesive transaction experience by virtually eliminating paper-based forms.

The solution will also help introducing broker/dealer firms, advisers, and RIAs monitor the account opening process and the status of their clients’ new accounts in real-time.

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RIAs can access this solution through Pershing’s affiliate, Pershing Advisor Solutions LLC, via its NetExchange Advisor workstation. Pershing’s introducing broker/dealer customers and their investment professionals will be able to access the solution through its NetExchange Pro workstation later in the year.

Additional information is available at www.pershing.com and www.pershingadvisorsolutions.com.

Deals & People June 25, 2008

ING Offers Morningstar Account Management Service to Clients

ING is now making available Morningstar Retirement Manager, including a managed retirement account service, to more than 26,000 retirement plan sponsor clients and 1.8 million plus participants.
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With Morningstar Retirement Manager, participants receive a personalized retirement strategy, including a retirement income goal assessment, recommended savings rate, and construction of an appropriate portfolio strategy based on individual goals.

According to an announcement, participants who enroll in the managed account service also receive professional asset management, ongoing account monitoring and quarterly progress reports to help them track their advancement toward their retirement savings goals.

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The fee-based discretionary account management service option is in addition to plan investment lineup selections and a free participant investment advice option offered to ING clients. Managed accounts may be used as a qualified default investment alternative (QDIA).

“Plan sponsors and their fiduciary advisers increasingly seek services like Retirement Manager that can give participants the added confidence they need in their investment decisions to help them remain invested,” said Rick Mason, president, ING Retirement Services Market Segments, in the announcement.

For more information about Morningstar, visit http://www.morningstar.com.

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