Pershing Managed Account Solutions

Pershing Managed Account SolutionsSummit Brokerage Services, an independent broker dealer based in Boca Raton, Florida utilizes Pershing to clear and custody their financial advisor’s business.  During the past few years, Pershing Advisor Solutions has created a vast array of platforms for RIAs to conduct their fee-based business.

Independent Financial Advisors (IFAs) who are looking for maximum flexibility in managed accounts can turn to Pershing Advisor Solutions for access to one of the industry’s most comprehensive offerings. Available through Pershing LLC’s affiliate, Lockwood Advisors, Inc. (Lockwood), or one of Pershing’s strategic third-party providers, the offerings span the managed account spectrum from an open-architecture, dual-contract solution to fully outsourced, single contract, turnkey platforms.

This array of managed account solutions is designed to help meet the needs of the IFA, now and in the future—whether they want to consolidate existing manager relationships on a single platform, get their wealth management practice up and running quickly or make the transition from a commission to fee-based business model.

Whether a firm is an established wealth manager or a new entrepreneurial venture, IFAs can choose from three distinct managed account solutions:

Dual Contract Program

For wealth managers seeking the combined flexibility of a customized, open-architecture managed account program with the operational support of a wrap account program, Pershing’s Dual-Contract Program can support virtually any money manager. This integrated offering gives Independent Financial Advisors the freedom to maintain certain processes such as manager research, due diligence and performance reporting in-house, while Pershing’s managed account professionals take on the operational tasks involved in servicing accounts. The Dual-Contract Program is designed for wealth managers who wish to maintain the maximum amount of control over a managed account program.

If you are a wealth manager seeking the combined flexibility of a customized, open-architecture managed account program with the operational support of a wrap account program, our Dual-Contract Program can support virtually any money manager. This integrated offering gives you the freedom to maintain certain processes such as manager research, due diligence and performance reporting in-house, while our managed account professionals take on the operational tasks involved in servicing accounts. The Dual-Contract Program is designed for wealth managers who wish to maintain the maximum amount of control over a managed account program.

RIA-Sponsored Program

For IFAs in transition or interested in expanding their managed account business, the RIA-Sponsored program allows IFAs to act as the program sponsor and provides access to packaged advisor-directed and discretionary mutual fund/exchange-traded fund advisory accounts, a unified managed account offering, and a choice from a list of available separate account managers, with either bundled or à la carte support services.

This integrated program is designed for IFAs who wish to deliver a combination of managed account products, customize a roster of money managers, negotiate fees and account minimums with money managers, and enter into advisory agreements directly with clients.

Turnkey Asset Management Provider (TAMPs) Program

For IFAs in transition or interested in expanding their managed account business through a fully outsourced solution, there is the option to partner with a firm from Pershing’s select network of TAMPs, including their affiliate Lockwood. These firms provide access to a variety of managed account solutions that are designed to relieve IFAs of time-consuming account servicing and portfolio management tasks so they can focus on growing their business.

The Lockwood-Sponsored Program is a single-contract, turnkey solution, which offers access to a selection of leading money managers, as well as optional access to independent research on a subset of available managers. In this offering, Lockwood serves as the program sponsor and, in addition to flexible separately managed accounts, IFAs may choose to access discretionary mutual fund/ETF wrap accounts, discretionary unified managed accounts as well as flexible advisor-directed mutual fund/ETF wrap accounts, with either bundled or à la carte support services. In addition to Lockwood’s history of managed account innovation, IFAs may benefit from the additional depth and global knowledge that has been established through a strategic partnership between Lockwood and BNY Mellon’s investment management team. The partnership allows Lockwood to leverage BNY Mellon’s capital market assumptions and investment strength and is ultimately designed to enhance its ability to manage portfolios.

This integrated program is designed for IFAs who wish to deliver a combination of managed account products and who want access to a growing roster of money managers with pre-negotiated manager agreements and who are willing to have their clients enter into advisory agreements with a third-party program sponsor.

If you are an advisor in transition or interested in expanding your managed account business, the RIA-Sponsored program allows you to act as the program sponsor and provides access to packaged advisor-directed and discretionary mutual fund/exchange-traded fund advisory accounts, a unified managed account offering, and your choice from a list of available separate account managers, with either bundled or à la carte support services.

This integrated program is designed for advisors who wish to deliver a combination of managed account products, customize a roster of money managers, negotiate fees and account minimums with money managers, and enter into advisory agreements directly with clients.

If you are an advisor in transition or interested in expanding your managed account business through a fully outsourced solution, you can choose to partner with a firm from our select network of TAMPs, including our affiliate Lockwood. These firms provide access to a variety of managed account solutions that are designed to relieve you of time-consuming account servicing and portfolio management tasks so you can focus on growing your business.

The Lockwood-Sponsored Program is a single-contract, turnkey solution, which offers access to a selection of leading money managers, as well as optional access to independent research on a subset of available managers. In this offering, Lockwood serves as the program sponsor and, in addition to flexible separately managed accounts, customers may choose to access discretionary mutual fund/ETF wrap accounts, discretionary unified managed accounts as well as flexible advisor-directed mutual fund/ETF wrap accounts, with either bundled or à la carte support services. In addition to Lockwood’s history of managed account innovation, customers may benefit from the additional depth and global knowledge that has been established through a strategic partnership between Lockwood and BNY Mellon’s investment management team. The partnership allows Lockwood to leverage BNY Mellon’s capital market assumptions and investment strength and is ultimately designed to enhance its ability to manage portfolios.

This integrated program is designed for advisors who wish to deliver a combination of managed account products and who want access to a growing roster of money managers with pre-negotiated manager agreements and who are willing to have their clients enter into advisory agreements with a third-party program sponsor.

The TAMPs available include:

Clark Capital Management Group
Concord Wealth Management
The Elements Financial Group
Envestnet Asset Management
FundQuest Incorporated
Genworth Financial Wealth Management
Hanlon Investment Management
Lockwood Advisors, Inc.
Madison Asset Management
Portfolio Design Advisors
Sterling Capital Management
WBI Investments

Integrated Technology Solutions

Independent Financial Advisors who are supported by a fully integrated technology environment have been found to spend about 50% more of their time with clients than a typical advisor.

With Pershing Advisor Solutions, Independent Financial Advisors can consolidate their managed account assets on NetX360®—Pershing’s groundbreaking advisor platform—and create an integrated environment to help deliver superior client service. IFAs can increase the efficiency and transparency of their managed account processes with tools to track the status of their requests until completion. NetX360 connects seamlessly to an existing environment, including the Client Relationship Management (CRM), billing and portfolio management systems of their choice.

For more information on Summit Brokerage Services, visit www.joinsummit.com or contact us at (800) 354-5528.

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