October 27, 2011

Pershing Offers Enhanced Asset Management Account With the Introduction of Corestone Account™


JERSEY CITY, N.J., October 27, 2011— Pershing LLC, a BNY Mellon company, announced today the introduction of Corestone Account™, an enhanced asset management account that offers more flexibility and a greater ease of use. Corestone Account replaces ProCash Plus® and bundles the industry's most popular features into a single, comprehensive offering.

"Pershing consulted with our customers in designing Corestone Account to develop a more robust program that raises the bar in asset management product and service excellence," said Katie Swain, director of product management and development for Pershing, "Corestone simplifies and enhances our asset management account, providing customers with a valuable tool for serving their clients' needs and driving the growth of their businesses."

Corestone Account offers three account tiers with different features and benefits, enabling customers and clients to choose the account best suited to their needs. Highlights of the offer include:

  • BillSuite™ Improvements – BillSuite, Pershing's bill management system for Corestone Account holders who are NetExchange Client® users, improves the client experience and simplifies system usability.
  • RewardSuite™ Enhancements – RewardSuite, the debit card rewards program provided exclusively to Gold and Platinum Corestone clients at no extra charge, offers enhanced benefits to Platinum users, such as airline rewards with fewer restrictions and concierge services accessed online or by phone.
  • ATM Upgrades – Gold and Platinum users will enjoy higher ATM limits allowing for greater access to cash. There are no ATM withdrawal fees imposed by Pershing and, as an added benefit, out of network ATM withdrawal fees will be reimbursed on the first $5 for Gold accounts and on the first $10 for Platinum accounts. Pershing will charge no additional fees above those assessed by networks and/or other banks for the use of their ATM. Additionally, users will enjoy complimentary membership with the Allpoint ATM network; allowing them surcharge-free access to more than 40,000 ATMs throughout the US, UK and Australia.
  • Gold and Platinum Visa® Debit Card Enhancements – New debit cards will be easier to use with a choice of signature or personal identification number (PIN)-based functionality. Clients will be able to obtain cash back at the point of purchase (subject to store limits) using their debit cards, and enjoy additional built-in benefits such as auto rental discounts and worldwide automatic travel accident insurance at the Gold and Platinum levels. Plus, each Corestone Account owner will receive a unique card number for additional security and greater access to cash.

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 more than 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 $25.9 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 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. Additional information is available at www.bnymellon.com and through Twitter@bnymellon.