April 14, 2011

BNY Mellon's Pershing Unit Expands Focus on Retirement Market to Help Financial Services Firms Capture the $303 Billion 'Money in Motion' Opportunity


Pershing Introduces RetirementPowerPlay.com with Detailed Strategies for Capturing Rollover Assets

JERSEY CITY, N.J., April 14, 2011 — Pershing, a BNY Mellon company, announced today the expansion of its retirement resources to help  broker-dealers, their investment professionals and registered investment advisors (RIAs) drive growth by capturing a portion of the significant 'money in motion' opportunity.  The centerpiece of Pershing's effort is www.retirementpowerplay.com, a dedicated online destination that provides financial professionals with educational content, tools and comprehensive strategies to help them grow their retirement businesses.

According to The Secret Knock: Unlocking the Retirement Opportunity, Pershing's recent study developed in conjunction with Mercatus, LLC, capturing the retirement relationship enables investment professionals and RIAs to gain a higher percentage of wallet share from their affluent clients—over 50% higher in some cases.  The movement of retirement funds each year in the form of IRA rollovers, IRA transfers and transfers of taxable money earmarked for retirement is estimated to be $303 billion.

Retirementpowerplay.com provides actionable insights for financial professionals on how to accelerate their retirement businesses as well as the tools and marketing materials to engage clients based on specific retirement product needs.  

Retirementpowerplay.com provides access to:

  • Power PlaysOffers product-specific tips and techniques, tools and marketing resources for expanding retirement assets with Individual Retirement Accounts (IRAs), Rollover IRAs, Roth IRA Conversions and Employer Sponsored Plans.
  • Premium ContentProvides the latest retirement news headlines and articles from Dow Jones.
  • Retirement Tool Box Provides product-specific marketing resources including educational content and thought leadership.
  • IndustryWatchKeeps users up-to-date on the latest developments affecting the retirement marketplace.
  • Retirement Calculators Provides valuable tools for comparing IRAs, calculating required minimum distributions, performing Roth conversion analyses and evaluating other critical retirement decisions.
  • Share Your Best Practices BlogHelps financial professionals share best practices, exchange ideas and capture actionable tips for building their retirement businesses.

"Our research confirms that financial professionals who position themselves as retirement solutions providers capture significantly more assets than those not focused on the retirement discussion with their clients or this aspect of growing their businesses," said Robert Cirrotti, director in product management and development at Pershing LLC. "Retirementpowerplay.com and our suite of retirement solutions are designed to help financial firms develop successful strategies to unlock this retirement opportunity and better serve their clients."

Pershing LLC (member FINRA/NYSE/SIPC) is a leading global provider of financial business solutions to more than 1,500 institutional and retail financial organizations and independent registered investment advisors who collectively represent approximately five million active investors. Located in 21 offices worldwide, Pershing and its affiliates are committed to delivering dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Pershing is a member of every major U.S. securities exchange and its international affiliates are members of the Deutsche Borse, the Irish Stock Exchange and the London Stock Exchange. Pershing LLC is a BNY Mellon company. Additional information is available at www.pershing.com.

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets.  BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team.  It has $25.0 trillion in assets under custody and administration and $1.17 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day.  BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).  Additional information is available at www.bnymellon.com.