From the September 2008 issue of Wealth Manager Web • Subscribe!

Online and Off the Beaten Track

A paperless account opening solution--one of the long-awaited cyber-perks of the 21st century--is here. Pershing LLC, the Bank of New York Mellon Corp. subsidiary, is introducing a system that enables advisors to provide clients with online account opening documents that can be completed and authorized with an electronic signature feature. The new capability will be available to RIAs through Pershing's NetExchange Advisor workstation this month. In addition to virtually eliminating paper forms, the solution gives advisors the ability to monitor the account opening process and the status of new accounts in real time.

"The introduction of this integrated online account opening solution via NetExchange Advisor and NetExchangePro relieves our customers of the burden of cumbersome operational support and makes it easier for them to conduct and grow their businesses," said Suresh Kumar, Pershing's chief information officer.

NetExchange Advisor provides RIAs with trading tools that enable them to build model portfolios, execute group orders and manage and record orders executed at other firms. NetExchange Pro, which is utilized by 100,000 investment professionals, already offers account information, quotes, investment research, news and third-party content from professional sources that include Dow Jones Newswires and Standard & Poor's.

Tracking the AlphaCycles

Advisors holding client accounts at Schwab Institutional, Fidelity, TD Ameritrade Institutional or Pershing Advisor Solutions can now track AlphaCycle Indexes through investment models designed by Wellesley, Mass.-based F-Squared Investments LLC. The five active models--available via Adhesion's Wealth ADV unified managed account platform--include Large Cap Core (tracking the AlphaCycle Klein Large Blend Index), Large Cap Growth (tracking the AlphaCycle KBC Large Growth Index), Small Cap Value (tracking AlphaCycle Klein Small Value Index), Small Cap Growth (tracking AlphaCycle Klein Small Growth Index), and Financials (tracking the AlphaCycle Mesirow Financials Index). Advisors can create customized asset allocation models by blending the AlphaCycle models together or with other investment strategies on the WealthADV platform.

Annual fees start at 51 bps and scale down to 44 bps for larger accounts (exclusive of custodian asset-based or transaction fees). More information is available at

Higher Art

Wealth managers, financial planners and advisors to high-net-worth art collectors are the target of a five-course program--three required and two elective--leading to a Professional Certificate in Art Business from New York University's School of Continuing and Professional Studies. The university launches the new one-year program this month as a response to "...the phenomenal expansion of the global art market in recent years, and the growing need for skilled professionals in a range of art market-related businesses and services," according to Terry Shtob, academic program director for Humanities, Arts and Writing Programs at NYU-SCPS. Tuition is expected to range from $2,200 to $2,500. Register at

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