A History of Innovation

1975

1975

Jim Lockwood developed the first wrap account1 at E.F. Hutton

Delivering an institutional-type of managed account to retail investors and planting the seed for the product innovation that would eventually become the core of the Lockwood business

1(What is a wrap account?)

1990s

1992

The first wrap account was launched at a wirehouse firm, supporting Jim Lockwood's vision and beginning the adoption of managed investments as an important part of the industry.

1995/1996

Lockwood was organized in 1995 and opened for business in the summer of 1996 introducing its separate accounts platform designed to meet the growing needs of independent financial advisors and their investors.

1999

History Timeline 1999

Lockwood became the number one provider of separate account services to independent financial advisors, according to Cerulli.

2002

History Timeline 2002

The Bank of New York acquired Lockwood. This transaction helped Lockwood offer a wider array of products and resources to independent financial advisors.

2003

History Timeline 2003

Lockwood became an early adopter of exchange-traded funds (ETFs) in its wrap programs offering investors systematic exposure to the markets. In addition, Lockwood launched its first unified managed account (UMA) designed to allow advisors and their investors to manage their investments holistically.

2005 - 2011

2005

Lockwood integrated with BNY Mellon's Pershing,

giving investors a broader array of products and services and the operational leverage of having their managed money and retail accounts on a single platform.

Lockwood also introduced alternative investments into various strategies in 2005. Adding opportunistic investments to a traditional, balanced investment portfolio may help to lower the portfolio’s volatility and generate more consistent returns.

2007

Lockwood launched objectives-based strategies in their mutual fund wrap program,

linking investments more directly to investor goals, rather than simply providing asset class or style exposure.

2009

Lockwood launched its open architecture separately managed account program designed to offer professional investment strategies to meet the complex investment needs of sophisticated investors.

2010

BNY Mellon acquired the PNC Global Investment Services line of business and merged Advisorport into Lockwood bolstering our managed account capabilities.

2011

Lockwood began to utilize certain research from BNY Mellon Wealth Management as an input to the Lockwood research process, harnessing some of the resources of BNY Mellon.

2013 - 2017

2013

BNY Mellon Investment Management created a centralized Manager Research Group, making available additional research tools, which Lockwood considers for inclusion in their products and programs.

2015

Lockwood launched Managed360® integrated within Pershing's NetX360® technology to deliver a streamlined managed accounts experience with a suite of tools, research and model portfolios designed to help financial professionals strategically scale their managed accounts business.

2016

Lockwood launched Lockwood WealthStart® Portfolios, a blend of mutual fund and ETF strategies designed to help financial professionals reach an often underserved market that may represent tomorrow’s high-net-worth individuals.

2017

Lockwood introduced Lockwood/American Funds Core Portfolios, harmonizing active and passive management designed to provide an efficient and effective investment solution for investors.*

* Lockwood is solely responsible for the fund selection and construction of the Portfolios and neither American Funds Distributors, Inc. nor its affiliates are involved in such activities.

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