Pershing LLC, a subsidiary of The Bank of New York Company, Inc., announced that the discretionary unified managed account programs offered through its affiliate Lockwood Financial Services, Inc. have surpassed $1 billion in assets under management.
The programs, Lockwood Investment Strategies and Lockwood Asset Allocation Portfolios, provide advisers with a selection of professionally managed portfolios designed to meet a wide variety of investor objectives.
“We have grown and evolved along with our clients to meet their objectives and expectations,” says Len Reinhart, president of Lockwood Financial Services, Inc. “Advisers are looking for products that meet the challenges of both accumulation for, and distribution in, retirement. Topping the $1 billion mark in our discretionary unified managed account programs demonstrates the innovative, forward-looking nature of our solutions.”