Next Financial Group announced Thursday that it has formed a partnership with several large managers to start a unified managed account platform exclusively for its fee-based advisers.
The Houston investment firm — in alliance with Envestnet Asset Management, Pershing Inc., AssetMark, Icon Advisers, Quantitative Advantage, Standard & Poor’s, and other managers — said it had introduced Global Management Account. The platform combines third-party managed money programs with Pershing’s fee-based and commission-based brokerage accounts for daily performance reporting and consolidated, on-demand client statements.
Global Management Account offers nearly 100 account managers and a mutual fund wrap program through Envestnet Asset Management, portfolios and investments from AssetMark and Icon Advisers, stock baskets from Standard & Poor’s, a managed exchange-traded fund program from Quantitative Advantage, fixed-income portfolios from Gates Advisers, and portfolios from two Next-affiliated companies — Page One Financial and LVZ Advisers.
