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BNY Mellon | Pershing’s and its affiliates provide advisors, broker-dealers, family offices, hedge fund and ’40 Act fund managers, registered investment advisor firms and wealth managers with a broad suite of global financial business solutions. Many of the world’s most sophisticated and successful financial services firms rely on Pershing for clearing and custody, investment and retirement solutions, technology, enterprise data management, trading services, prime brokerage, managed account technology and operations and business consulting. Pershing helps clients improve profitability and drive growth, create capacity and efficiency, attract and retain talent, and manage risk and regulation. Pershing provides business-to-business solutions to clients representing more than seven million investor accounts globally. Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company. Professionally advised managed accounts are offered through its affiliate, Lockwood Advisors, Inc., which is an investment adviser registered in the United States under the Investment Advisers Act of 1940.

Hans Schemmel

Director, Retirement, Insurance-based & Cash Management Solutions

Award Category
Custodians (Established – $25B and Over): Alternative Asset
Initiative
Thought Leadership Article: “Can Alternative Investments Reduce Retirement Income Worry?”
No one could predict the impact and resulting disruption and market volatility of COVID-19 in 2020. However, in September of 2019, Pershing published a thought leadership article pointing out that advisors should be considering alternative investments in retirement portfolios to provide diversification and protection against market volatility. The thought leadership article, authored by Justin Fay Director of Pershing’s Alternative Investments platform, warned of market volatility on the horizon and exploered the use of REI.

James T. Crowley

Chief Executive Officer

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Custodians (Established – $25B and Over): Thought Leadership
Initiative
Perspectives from Our Senior Leadership Team
Given our vantage point in the industry, clients often ask us what’s on the minds of our leaders and leaders from our client firms. To help answer this question, we created new Perspectives Commentaries. These Perspectives provide insights into what other firms are experiencing, which is proving to be a powerful way to identify opportunities to adapt and evolve with the industry. Perspectives’ innovative designs leverage infographics to illustrate complex ideas in digestible formats and share action oriented ideas/insights. Topics range from vendor relationships and client advocacy to innovative product enhancements and reflections from our client and technology advisory boards.

Hans Schemmel

Director, Retirement, Insurance-based & Cash Management Solutions

Award Category
Insurance: Service
Initiative
Enhanced Subscribe® Annuity Order Entry Platform
We rolled out enhancements for Subscribe®, BNY Mellon | Pershing’s annuity order entry platform, including electronic signature (eSignature) capabilities and the ability to support an advisors’ fee-based business. The latter enhancement includes ways to allocate variable annuity sub account vehicles (or fixed annuities) within our managed account proposal system, support networking issued contracts to brokerage, billing and some performance management of carriers’ fee-based annuities.

Sarah Chain

Director, Head of Product and Strategy, Managed Accounts

Award Category
Technology Providers: Innovation Platforms
Initiative
Managed Accounts and Fee-based Annuities Integration
BNY Mellon | Pershing’s integrated its fee-based annuities platform with the managed account solutions platform to make it seamless for advisors to include fee-based annuities in an overall wealth plan for investors. Advisors now have a cohesive experience for advisory assets and annuities from proposal to performance reporting with access to over 70 fee-based annuity products provided by 18 carriers. Adding annuities to advisory accounts is easy with pre-filled insurance carrier paperwork and the ability to share with clients for eSignature.

Joel Hempel

Managing Director and Chief Operating Officer, Lockwood at BNY Mellon | Pershing

Award Category
TAMPs: TAMPs
Initiative
Lockwood Managed360(R) Enhancements
“With more than 5,500 accounts and $1.1B in total assets as of March 31, 2020, Lockwood’s turnkey solution, Lockwood Managed360®, is designed to help financial professionals efficiently administer managed assets within one integrated technology platform. Features include: • A range of investment advisory solutions, including mutual fund/exchange-traded fund wrap accounts, unified managed accounts and separately managed accounts • Access to third-party strategists and their models • Institutional-quality research • Client onboarding and account maintenance tools and workflows In an effort to help advisors capitalize on the growth opportunities in the fast-growing Latin American market, in June 2019, Lockwood made the Managed360 program available to Latin American clients and launched the Lockwood Offshore Asset Allocation Portfolios to U.S.-based advisors serving investors in Mexico, Argentina and Brazil.”
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About the Initiative

Guided Income Solutions℠ (GIS) is a turnkey, bucketed investment solution designed to deliver steady and tailored cash flows to clients planning for retirement. The bucketed investing framework provides an intuitive approach to converting clients’ nest eggs into an automatic income replacement based on their personal financial goals; the buckets automatically rebalance to systematically reduce risk and accommodate investors’ needs. GIS provides an alternative to annuities; delivering an investment approach that is flexible, liquid, and cost-effective.

GIS aims to transform and enhance current retirement income solutions, to:

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