Pershing clients gain omnibus capability
Pershing LLC has made omnibus subaccounting available to its client broker-dealers selling the CollegeAmerica 529 college-savings plan. CollegeAmerica is the Virginia-sponsored 529 plan run by American Funds.
CollegeAmerica recently implemented omnibus subaccounting with the Edward Jones brokerage firm.
Both Edward Jones and Pershing have indicated their desire to work with other 529 plans to make omnibus subaccounting available to their financial advisors. Omnibus is already pervasive in the mutual fund world and extending it to 529 plans would enable financial advisors to more easily transact 529 sales and integrate clients with non-529 investments.
Return to 529 News centerCollegeAmerica recently implemented omnibus subaccounting with the Edward Jones brokerage firm.
Both Edward Jones and Pershing have indicated their desire to work with other 529 plans to make omnibus subaccounting available to their financial advisors. Omnibus is already pervasive in the mutual fund world and extending it to 529 plans would enable financial advisors to more easily transact 529 sales and integrate clients with non-529 investments.