The new tools enable Pershing’s customers to view their clients’ portfolios “by investment goals, then styles within the goals, then managers within the styles, or you can choose to show just portfolio and account level performance. Advisors can then review their performance over time against these benchmark[s] to closely monitor their performance against the target market selected,” a spokesperson for Pershing said via e-mail.
In addition, Pershing’s customers will now be able to view assets that their clients hold away from Pershing. The new tools include a customizable homepage, flexible reporting levels, daily returns, composite reporting and maintenance, cost basis tracking and tax-lot entry benchmark tracking, to help Pershing’s customers grow their businesses and manage risk.
Reed Colley, the founder and chief executive officer of Black Diamond Performance Reporting LLC, said in the announcement: “We are pleased to offer our flexible performance reporting solution to Pershing’s customers through the NetX360 platform. We are confident that our robust application will provide investment professionals and RIAs with the capabilities they need to oversee their clients’ investment portfolios in an efficient and effective manner.”
Michael K. Stanley can be reached at [email protected]