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Pershing Rolls Out Lower-Minimum Advice Platform, Designed To Help Advisors Comply with the DOL Rule

October 5, 2016

Pershing Rolls Out Lower-Minimum Advice Platform, Designed To Help Advisors Comply with the DOL Rule

 | By , Contributor | Trust Advisor

Commentary on ThinkAdvisor article by Melanie Waddell

Pershing wants to make it easier for advisors to comply with the Department of Labor’s fiduciary rule, introducing a new platform geared at mass-affluent investors that provides access to mutual funds and exchange-traded funds, ThinkAdvisor writes.

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Helping Advisors Become Fee-Based

The company has rolled out Lockwood WealthStart Portfolios, open to investors with at least $10,000, offering mutual fund and ETF strategies in risk-based portfolios from several providers, according to the publication.

Joel Hempel, Lockwood’s chief operating officer, said that this focus could help advisors make the move from commission-based to fee-based advice, ThinkAdvisor writes.

The new offering will be accessible to advisors through the managed account platforms on both Pershing and Lockwood, according to the publication.

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Thomas E. Burns, III
July 29, 2015
February 22, 2016

I subscribe to Blue Vault to keep up with the sponsors and their wholesalers! The analysis keeps me up to date with the various portfolios and the way they are managed, including the differences between them.