Pershing LLC, a unit of Bank of New York Mellon Corp., announced Wednesday that it added Franklin Templeton Investments and MFS Investment Management to its FundVest no-transaction-fee mutual fund platform.
Funds from these companies are now available to Pershing's introducing broker-dealer customers and the clients that they serve, and to independent registered investment advisers and their clients through Pershing Advisor Solutions LLC.
FundVest offers investors access to over 3,000 mutual funds, managed by more than 200 fund companies. Through it, investors can buy, sell or exchange load and no-load funds without incurring regular transaction fees.
More than 30 fund companies have been added to FundVest over the past year, including Neuberger Berman, Hartford Financial Services Group Inc.'s Hartford Mutual Funds and T. Rowe Price.