BNY Mellon’s Lockwood Advisors has added five new third-party model portfolio providers to its Managed 360 program.
The firms winning new spots on the program are: First Trust, Goldman Sachs Asset Management, JP Morgan Asset Management, New Frontier and S&P Investment Advisory Services.
The addition of the five new strategists is part of a wider expansion of the Managed 360’s model offering, which has had nine new ranges of models added. Eight of the new ranges come from the five new strategists, while the ninth comes from BlackRock, which already offered portfolios via the program.
The firm has added First Trust’s Strategic Risk portfolio range and Strategic Focus range. It also added Goldman Sachs’ asset allocation model portfolios as well as JP Morgan Global Multi-Asset’s range and Dynamic Flexible range. Both ranges combine JP Morgan’s strategic beta ETFs, active mutual funds and third-party ETFs.
New Frontier also landed two ranges on the program, the New Frontier ETF Multi-Asset models, and the New Frontier ETF Advantaged model series. While S&P’s Model Allocation Portfolios ETF series is also now available via Managed 360.
BlackRock’s Target Allocation series is also now available on the program. The asset manager already offered its Target Income series and Long-Horizon Allocation ETF portfolios via Lockwood.
The new deals mean there are now 123 individual portfolios from 13 different strategists available on the program. The firm already offered portfolios from Alpha Simplex, BlackRock, Calvert, Invesco, Loring Ward, Morningstar, Russell Investments and Vanguard.
Managed 360, used by more than 250 broker-dealers and RIAs, is a program that offers a range of separately managed accounts and model portfolios.
Joel Hempel and Matt Forester (pictured), chief operating officer and chief investment officer at Lockwood Advisors, respectively, lead the selection and monitoring of strategies offered on the platform.
The firm oversaw $8.1 billion in assets via a range of managed account offerings on the platform and outsourced consulting arrangements with six broker-dealers, as of the end of August. Third-party strategists account for $1.5 billion of assets under management.
‘By adding this group of well-recognized strategists to our program, we are providing financial professionals with a diverse selection of portfolios so they can focus on delivering a higher-touch experience to investors and drive business growth,’ Hempel said.
‘We believe these highly competitive and well-rounded additions to our program will help financial professionals meet a broad range of investor needs through various market cycles,’ Forester added.
To read more about how Forester and Hempel select managers and strategists, click here.
Asset managers win
Lockwood’s decision to add a host of new strategists to the program is further evidence of a growing market for such services, a fact that has not been lost on asset managers, such as BlackRock and JPM.
In June, BlackRock landed its Multi-Asset Income portfolios on Morgan Stanley’s UMA platform, becoming the third asset manager, after American Funds and JPM, to win a slot on the program.
At the time, Greg Weiss, head of BlackRock's managed accounts business, said: ‘Models are increasingly popular as advisors seek to grow their practices as fiduciaries and free up time to deliver holistic wealth management. At BlackRock, we are executing on a multi-year plan to invest resources across investment teams, advisor support, retail technology and infrastructure to offer client experience, product and servicing like no other firm.’