Lockwood Advisors, a subsidiary of the Bank of New York, has partnered with BNY Capital to allow financial advisers to construct municipal bond portfolios for their clients. Through BNYs trading desk, advisers can now structure passive portfolios of high-quality municipal bonds of varying maturities. The new offering is part of a recent campaign by Lockwood to broaden beyond separately managed accounts with such offerings as a registered hedge fund, a mutual fund supermarket and wrap program and a mortgage origination program.
"These portfolios give individuals an attractive alternative for managing their fixed-income investments by blending the buying power and expertise of BNY Capital Markets with the tax-management potential of municipal bonds and the independent advisers understanding of each clients needs," said Christopher W. Tomecek, president of Lockwood Advisors.
