Products May 28, 2008

Pershing Launches Trust Network for B/D, RIA Customers

Pershing LLC, a subsidiary of The Bank of New York Mellon Corporation, launched Trust Network, offering a wide range of services from trust companies.
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Pershing’s Trust Network offers customers trust administration services from AST Capital Trust Company, Reliance Trust Company, Santa Fe Trust, Inc., and Wilmington Trust, and enables Pershing’s customers to perform investment management activities for their clients’ trust accounts.

The open architecture platform offers full trustee services, agent for trustee services, and trust reporting. All related assets are held in custody at Pershing. The system is available to Pershing’s introducing broker/dealer customers through Pershing LLC and registered investment advisers (RIAs) via Pershing Advisor Solutions LLC.

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“We understand that trusts are among the most important wealth management planning tools that our introducing broker/dealer and RIA customers can offer their clients,’ said Jim Crowley, managing director at Pershing said. “This new platform enhances our extensive suite of wealth management solutions and provides our customers with the flexibility to choose the trust administration provider that can best support their strategic business objectives and their clients’ needs.”

Additional information is available at www.pershing.com


Deals & People May 28, 2008

Great American Advisors Launches Fee-Based Advisory Platform

Great American Advisors (GAA), in partnership with FundQuest Incorporated, launched a platform in response to adviser demand for fee-based business.
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GAA, a broker/dealer subsidiary of American Financial Group, will provide the platform, the Great American Portfolio Strategies Program, to their investment representatives. FundQuest will provide the platform technology, according to a press release.

“There is a continuously growing demand with our advisers for fee-based business,’ said Maureen Johnson, Director of Operations at GAA. “We wanted a platform that allows advisers to offer a wide array of investment options addressing specific client needs including their risk tolerance, financial goals, investment restrictions, and tax considerations. We also wanted these options to be fully integrated with our own internal systems.’

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The release says the new program provides investment advisers and clients with an expanded array of products including mutual fund wrap accounts, mutual fund model portfolios, and separately managed accounts.

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