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Pershing Announces New Platform
style=”MARGIN: 0in 0in 0pt”>Managed Account Direct offers:
- account set-up
- transition processing
- maintenance
- money movement
- tax management tools, and
- fee billing.
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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.
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style=”MARGIN: 0in 0in 0pt”>John Iachello, managing director at Pershing, said that Managed Account Direct offers advisors the “best of both worlds.”
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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.