Pershing LLC, a subsidiary of The Bank of New York Company, Inc., has launched Managed Account Network, an open architecture platform that allows introducing broker-dealer firms to offer their clients a wide range of managed account applications from industry-recognized turnkey asset management program providers.
Through Managed Account Network, Pershing’s introducing broker-dealer customers can access the services of external asset management program providers such as Lockwood AdvisorsR, FundQuest, Envestnet Asset Management, Morningstar Investment Services and Tercet Capital, LLC, and hold the related assets in custody at Pershing.
The extensive array of managed account services offered include separately managed accounts, unified managed accounts, mutual fund wrap accounts and advisor-directed programs.
“Investment professionals are increasingly looking for flexible managed account services to fulfill their clients’ needs,” says Ron Fiske, managing director of the product management and development group at Pershing. “The open architecture of Managed Account Network will enable our introducing broker-dealer customers to work closely with some of the finest turnkey asset management program providers in support of their strategic business objectives.”