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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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Gil Armour, CFP
February 3, 2016

I have been using Blue Vault Partners for the past five years.  I have found them to be a valuable, unbiased resource when it comes to evaluating and comparing non-traded REITs.  The reports help me analyze which sponsors are doing a responsible job of managing their offerings.  This allows me to limit my REIT recommendations to only the most competitive products, and then track those REITs throughout their life cycle.