Products June 26, 2006

Pershing Announces New Platform

June 26, 2006 (PLANSPONSOR.com) - Pershing announced a new open architecture platform that will allow registered investment advisors to access separately managed accounts, according to a company news release.
Reported by

style=”MARGIN: 0in 0in 0pt”>Managed Account Direct offers:

  • account set-up
  • transition processing
  • maintenance
  • money movement
  • tax management tools, and
  • fee billing.

style=”MARGIN: 0in 0in 0pt”> 

style=”MARGIN: 0in 0in 0pt”>According to the news release, the account will allow advisors to continue working with their current portfolio managers as well as having in-house research teams and due diligence processes. Pershing also asserts that the platform will allow advisors to outsource day-to-day operational processes.

style=”MARGIN: 0in 0in 0pt”> 

style=”MARGIN: 0in 0in 0pt”>John Iachello, managing director at Pershing, said that Managed Account Direct offers advisors the “best of both worlds.”

style=”MARGIN: 0in 0in 0pt”> 

style=”MARGIN: 0in 0in 0pt”>”Our scale, size and efficient managed account operations enable advisors to access the portfolio managers they choose while benefiting from a variable cost structure,” Iachello said in a news release.

«