Podcast Center
Video Center
Webcasts
Resource Center
Events
By 
June 06, 2018 at 01:35 PM
Parent company BNY Mellon is investing more than $50 million in Pershing to accelerate the custodial firm’s growth in the wealth management and financial advisory industry.
The investment, announced at the firm’s INSITE 2018 conference in Orlando, Florida, will focus on three core areas: human capital, client experience and growth within the RIA industry.
“Positive forces of change in the industry, fueled by shifting investor preferences and a growing desire for transparency, are driving the growth of the advisory business,” said Lisa Dolly, CEO of Pershing, in a statement. “In an effort to continue to anticipate clients’ needs and industry changes, today we are announcing an additional multi-year investment of more than $50 million in our business, which will help us further accelerate our growth in the wealth and advisory market segments.”
The firm will be hiring new technology professionals to “deepen its integration and digital client experience capabilities” and it has created a new position, the head of advisor solutions platform strategy, and appointed Christina Townsend to fill that role.
It will be offering two new platforms to enhance the client experience: NetX360-Wealth, a wealth management platform for brokerage, bank custody and advisory businesses covering the full range of services from prospecting to client onboarding and investment management, and ManagedConnect, a dual contract management account offering (for clients contracting with RIAs and money managers) that allows RIAs to design customized portfolios connecting investors with a wide array of money managers.
