Pershing, a BNY Mellon company, has expanded its no-transaction-fee mutual fund platform FundVest with the addition of Lord Abbett.
According to the Pershing, mutual funds from Lord Abbett will be available to its introducing broker-dealer customers and the clients they serve, and to independent registered investment advisors and their clients through Pershing’s affiliate, Pershing Advisor Solutions.
Pershing said that its FundVest platform offers investors access to over 3,700 mutual funds, managed by 230 fund companies. Through FundVest, investors can buy, sell or exchange an array of load and no-load mutual funds through their financial intermediary without incurring regular transaction fees.
Natalie Wolfsen, managing director of the product management and development group at Pershing, said: “The addition of Lord Abbett to FundVest demonstrates our continued commitment to expand our no-transaction fee mutual fund platform and provide our customers with access to a wide range of investment solutions from high caliber fund companies that will help them assist their clients in achieving their financial objectives.”