The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:After Adding Two Third-Party Strategists, Pershing Hunts For More Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, May 10, 2017

After Adding Two Third-Party Strategists, Pershing Hunts For More

Reported by Tanvi Acharya

The Jersey City, New Jersey-based B-D clearing and RIA custody firm expanded its managed accounts solution to include a total of nine offerings, and it's not done. Yet, expanding Pershing's managed investment solutions is about more than just adding good strategists, a top exec at a Pershing affiliate explains. It's about partnering with the right ones.

Joel Hempel
Lockwood Advisors
Managed360, offered through Pershing affiliate Lockwood Advisors, added Invesco [profile] and Loring Ward to its list of third-party model providers, which also includes BlackRock, Morningstar, Russell, Vanguard, AlphaSimplex Group, Calvert and Lockwood – WealthStart Portfolios.

In two years, the managed accounts solution has added nine third-party model providers, and there will be more, Joel Hempel, chief operations officer at Lockwood tells MFWire.

“There is a growing appetite in the market for investment solutions,” Hempel says. “We are not ruling anything out if the offering is additive and not duplicative.”

The goal is to find good strategic partners and not just “become a supermarket” of strategists, Hempel adds.

Launched in 2015, Managed360 helps financial professionals scale their managed accounts business by leveraging the power of Pershing's NetX360 platform. And the third-party model provider offerings allow access to a diverse set of strategies.

The latest additions, Invesco and Loring Ward, are two unique offerings, Hempel says. Invesco provides a smart beta ETF solution through its PowerShares brand, while Loring Ward brings its long-standing partnership with Dimensional Fund Advisors and its work helping advisors grow their business, he explains.

It is also important to meet with the advisors to talk and help them grow their practice, Hempel emphasizes, like Lockwood did recently with various representatives, including those from Russell and BlackRock, in Costa Mesa, California.

“Its not just about the technology or investments, its about really delivering and engaging with advisors,” Hempel adds.

For Loring Ward, this is not unfamiliar territory, having worked similarly with Envestnet for years, Scott Lamb, vice president of strategic relations at Loring Ward, tells MFWire.

“We are well suited to this space,” says Lamb. “This offering will now provide advisors with an easy access to Loring Ward’s strategy… And through this relationship, we will be exposed to more broker-dealers.”


Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use