Pershing LLC, a BNY Mellon company, announced that it has enhanced its Trust Network with the additions of Comerica Bank & Trust, NA and New York Private Trust Company.
Trust Network is Pershing’s open-architecture platform that enables its introducing broker-dealer and independent registered investment advisor (RIA) customers to offer their clients a wide range of personal trust services and solutions from industry leading trust companies.
”Investment professionals and advisors who serve sophisticated clients need the flexibility to offer the trust administration provider that can best support their business objectives and clients’ needs,” said Katie Swain, director of product management and development for Pershing. “The additions of Comerica and New York Private Trust Company expand our extensive suite of wealth management solutions and provide our customers with best of breed choices for serving their clients.”
Comerica Bank & Trust, NA, a subsidiary of Comerica Incorporated, is one of the 25 largest U.S. bank holding companies and has over $100 billion in trust and custody assets. Comerica is a pioneer and a leader in forming strategic alliances with financial organizations to provide a wide variety of personal trust services including estate settlement, trust administration, closely-held business management and real estate management.
New York Private Trust Company is a Delaware-chartered trust company providing a broad range of fiduciary services to investment advisors and other institutions lacking trust powers throughout the United States. The broad array of capabilities offered through Pershing’s Trust Network includes full trustee services and administrative trustee services. The platform enables Pershing’s customers to perform investment management activities for their clients’ trust accounts with all related assets held in custody at Pershing.
Trust Network is available to Pershing’s introducing broker-dealer customers through Pershing LLC and RIAs via Pershing’s affiliate, Pershing Advisor Solutions LLC. 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.