As inflows into exchange traded funds on the Pershing platform increased 20 percent in 2016 from the previous year, Pershing announced Thursday its new no-transaction-fee ETF platform: FundVest ETF.
The no-transaction-fee platform requires no purchase minimums or holding period, and will be available to all Pershing clients.
Pershing Director of Financial Solutions Justin Fay said as the demand for ETFs continued to increase, Pershing was pleased to bring its clients a diverse selection of no-fee ETFs offered on an independent, open architecture platform.
“This new offering reaffirms our commitment to expanding the suite of low-cost investment solutions available to our clients as they continue to implement ETFs more frequently within portfolios in an effort to more efficiently meet investor financial goals,” said Fay, who responsible for Pershing’s Alternative Investments and ETFs.