Products October 11, 2011

Pershing Paper Offers Guidance for Wirehouse Advisers

Pershing Advisor Solutions, a BNY Mellon company, has published a white paper reviewing various independent registered investment adviser (RIA) models, to assist wirehouse advisers considering a change.  
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The paper, “Destination RIA: What to Expect and How to Prepare,” sets expectations for the different challenges of working as an RIA.

“The RIA model has continued to grow rapidly as wirehouse advisers seek the freedom to run their businesses in a manner which best enables them to meet their clients’ needs,” said Kim Dellarocca, head of practice management at Pershing. “The study provides assistance for determining whether such a move is right for an adviser and, if so, how to make a successful transition.”

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Pershing says highlights of its paper include:

  • Benefits of the Independent Model – Industry turmoil, mergers of major firms, regulatory pressure, and investor trends are driving the shift toward greater fiduciary responsibility, writes Pershing. 
  • What it Takes to Succeed – The paper explores the many options advisers have when considering going independent, including: to start an RIA, to join an RIA, to join an independent broker/dealer, or to start a broker/dealer or affiliate with a strategic acquirer. 
  • Ensuring a Successful Transition – Pershing writes that some advisers do not have the prerequisite personality traits and practice characteristics to succeed as an independent adviser and that personal preferences may be an obstacle when it comes to a preference for running a business versus simply servicing clients.
  • Planning the Transition – The paper suggests advisers should consider working with a transition consultant to develop a business plan with a detailed timeline and project plan that can provide a road map for guiding them through the transition.

Additional information is available at www.pershingadvisorsolutions.com.

Products October 11, 2011

Ashmore Launches Emerging Markets Small Cap Equity Fund

Ashmore Investment Management Limited has launched the Ashmore Emerging Markets Small Cap Equity Fund.
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Ashmore said it has also broadened access to its U.S. mutual funds for a wider range of investors through the introduction of retail share classes (A and C), which complement the previously launched institutional share classes.   

The Ashmore Emerging Markets Small Cap Equity Fund offers long-term capital appreciation through investments in equity and equity-related securities of small capitalization companies traded in Emerging Markets securities markets. Securities selected will consist primarily of companies with a market capitalization of up to US$2 billion at the time of investment.   

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The company says that all its funds invest exclusively in Emerging Markets. The Emerging Markets debt strategies offer funds that include Total Return; Sovereign Debt; Local Currency Bond; Local Currency; and Corporate Debt. On the Equity side, the launch of the Ashmore Emerging Markets Small Cap Equity Fund complements the existing Ashmore Emerging Market Equity Fund that focuses on larger-cap names.   

Ashmore recently appointed Ted Smith as Head of U.S. Intermediary Distribution, reporting directly to Christoph Hofmann, Ashmore’s Global Head of Distribution. Smith is based in the New York office and is responsible for establishing key relationships with financial intermediaries and for building a team to service financial advisers. He brings more than a decade of experience in working with U.S. intermediaries. 

Ashmore plans to offer its funds through selected intermediaries, including broker/dealers, registered investment advisers (RIAs), banks, insurance companies, and retirement platforms.

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