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 COO

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.”

 

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