BNY Mellon Pershing will offer a managed account platform open to all in the fall.
The Jersey City, New Jersey-based custodian said its Managed Accounts Central platform will be open to its own clients, as well as, to firms that do not custody with Pershing. The platform will allow wealth managers to oversee their advisory business across custodians through a single solution, with users being able to outsource their managed accounts technology as well as their investment advisory solutions, or a combination of both.
“Our new offering is designed to address the need to streamline the process of running managed accounts,” said Sarah Chain, the firm’s director of global strategy and product management.
Managed accounts are projected to grow to $11.6 trillion in 2023 from $7.4 trillion at the end of 2019, according to Cerulli Associates.
With a fifth of RIA firms using AI to create marketing content, one leading voice argues a clear identity and focusing on clients will be crucial to success.
LPL Financial is a bellwether for the broader financial advice marketplace.
The San Francisco-based startup's Series A funding, with support from Schwab and Edward Jones Ventures, will reinforce its role in the coming $124 trillion wealth transfer.
The quartet of deals across New York, Florida, Ohio, and New Mexico reinforces the fast-growing integrator's leading position in the independent space.
UBS and Wells Fargo have made their own additions in the Northeast, including a Massachusetts duo defecting from Commonwealth.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
