Pershing brings institutional investment research to broker-dealers, advisers

Pershing wants to bring the research capabilities of its parent company to adviser-managed portfolios. The Bank of New York Mellon Corp. subsidiary announced Monday it was creating a list of mutual funds based on the bank's investment manager research. A version of the list will be available for broker-dealers and financial advisers using Pershing's platform starting this year, the company said in a statement. The list, known as the FundVest 200, will be curated by Lockwood Advisors Inc., a King of Prussia, Pa., independent financial advisory firm. The research will highlight funds with superior organizational structure, investing philosophy and process, according to Jamie Lewin, chief investment officer of Lockwood Advisors and head of manager research for the investment management unit of BNY Mellon. Early next year, the list will grow to encompass 200 funds in over 40 investment categories, including alternative asset classes, Pershing said in the statement.