Products October 27, 2011

Pershing Plans to Take Platform Online

Pershing LLC, a BNY Mellon company, plans to expand access to its open-architecture technology platform, NetX360, with an online version. 
Reported by

Like the original NetX360, NetX360.com will enable Pershing’s introducing broker/dealers, their investment professionals, and registered investment advisers (RIAs) to manage their firm’s brokerage and advisory business on a single, integrated platform. NetX360 has more than 100,000 registered users since being launched in 2009 (see “NetX360 Open-Architecture Platform Introduced by Pershing“).

Pershing has focused on expanding its mobile offerings in response to customers’ demands to be able to access their portfolios from any location. Given this flexibility, the company points out that NetX360.com has the additional benefit of acting as a complement to disaster recovery and business continuity plans.

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“To offer the highest service levels to their customers, advisers need access to customer information and tools no matter where they are,” said Lucille Mayer, managing director of technology products and services at Pershing, “NetX360.com’s simplified user interface, based upon feedback from our customers, will improve the overall user experience while offering the ability to utilize core account management and trading capabilities from Internet browsers.”

Pershing is currently testing a beta version of the application with investment professionals. It plans to formally launch the application in December positioned as the replacement for the existing browser based application NetXPro.com.

The Markets October 27, 2011

529 Plan Assets Increase 12% in 12 Months

Morningstar's 2011 529 College Savings Plans research paper and industry survey found that 529 plan assets increased by 12% the last 12 months. 
Reported by

Conservative allocation options in 529 plans have gained the most in asset flows during the first nine months of 2011 among Morningstar’s static-allocation categories.  Virginia had the most 529 plan assets of any state, with more than $29 billion in its adviser-sold and direct-sold plans.

Open architecture plans—which include a variety of asset managers’ funds in their offerings—did not have a consistent performance edge during the past year over “closed architecture” plans, which feature just a single firm’s portfolio strategies.

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Categories of 529 investment options slightly trailed their open-end fund counterparts over the past five years as of September 30, 2011, but the lead has changed hands in the midst of heightened market volatility. Several 529 categories led their corresponding open-end fund categories just two months earlier.

The tax benefits of a 529 plan improve returns for investors relative to similar mutual funds, which can add up to significantly higher returns over the long term.

This is the eighth year that Moringstar has reviewed 529 plans. To access the full Morningstar 529 College Savings Plans Research Paper and Industry Survey, visit http://global.morningstar.com/529Survey2011.

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