As investors seek greater access to professional financial advice, platform allows advisors to capitalize on growing market segment
HOLLYWOOD, Fla., June 4, 2014 /PRNewswire/ -- At the INSITE™ 2014 conference in Hollywood, Florida, Pershing LLC, a BNY Mellon company, today announced the launch of its new, fully integrated, next generation managed investments platform available through NetX360®. A key attribute of the new platform is its ability to accommodate firms that custody with Pershing as well as firms that use other custodians. In addition to the new multi-custodial capabilities, the platform provides a comprehensive suite of tools, including client risk profiling, portfolio analytics, model management, wealth reporting and business intelligence that will help firms and their advisors to be competitive in today's marketplace and to accelerate the growth of their managed investments business.
As the shift to an advisory model continues to grow, the Pershing Managed Investments Platform provides advisor tools to assist in meeting the needs of investors in a scalable way with maximum efficiency. A recent Cerulli study found that the market opportunity potential represents nearly 118 million households and $27 trillion in total investable assets1. At the same time, assets in fee-based managed accounts are growing faster than assets in long-term mutual funds2.
"A growing number of investors are demanding tailor-made portfolios they didn't require at previous asset levels," said John Brett, managing director and head of Pershing's Managed Investments group. "This new platform gives investors the customization they now need, within a flexible, fully-integrated model. Advisors who position themselves now for this next stage of evolution in wealth management will improve their competitive advantage as they engage with an increasingly sophisticated market segment."
A number of market forces have converged to enhance the availability of managed investments for investors. These factors include a shift from commission to fees, scalability made possible by technology advancements, changing service and investment models, the growth of the mutual fund wrap business, and a strong demand for financial advice from investors. The convergence of these trends has influenced and informed the construction of Pershing's platform.
The main features of the platform include:
Mr. Brett added, "We are currently working with clients to enhance their experiences with the new platform and we expect this process to continue throughout the remainder of the year."
For more information regarding the Pershing Managed Investments platform, please visit: www.pershing.com/managedinvestments.
Pershing and its affiliates provide global financial business solutions to approximately 1,600 financial organizations, broker-dealers, registered investment advisory firms, advisors, fund managers and asset managers who represent over 5.6 million active accounts. Located in 23 offices worldwide, Pershing delivers dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Pershing affiliates are members of every major U.S. securities exchange, and its international affiliates are members of the Deutsche Borse, Australian Stock Exchange, Irish Stock Exchange, London Stock Exchange and Toronto Stock Exchange.
Pershing LLC (member FINRA/NYSE/SIPC) is a BNY Mellon company. Additional information is available on pershing.com, or follow us on Twitter @Pershing.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of March 31, 2014, BNY Mellon had $27.9 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com, or follow us on Twitter @BNYMellon.
SOURCE BNY Mellon
1 Source: The Cerulli Report - U.S. Retail Investor Product Use 2013
2 Source: Strategic Insight/SIMFUND, Cerulli Associates, 2000 – 3Q2013