Pershing announced Monday its launch of an open architecture platform designed to support separately managed accounts.
Managed Account Direct offers users the ability to work with their current portfolio managers, have individual research teams and outsource daily operational processes.
The platform’s services and offerings, which include account set-up, transition processing, tax management tools and fee billing enable RIAs, Pershing says, to better focus on their clients’ needs and best interests.
“Through Managed Account Direct, Pershing Advisor Solutions is offering RIAs the best of both worlds,” says John Iachello, managing director at Pershing Advisor Solutions. “Our scale, size and efficient managed account operations enable advisors to access the portfolio managers they choose while benefiting from a variable cost structure.”