Pershing X this week announced a series of enhancements to its Wove wealth management platform for financial advisors and broker-dealers.
Ainslie Simmonds, Pershing X president and Pershing global head of strategy, detailed the updates at the firm's annual Pershing Insite conference, taking place this year in Nashville, Tennessee. They include three new primary offerings: Wove Investor, Wove Data and Portfolio Solutions.
Wove Investor provides advisors with an interconnected portal to serve their clients, while Wove Data seeks to enable larger firms to turn data sets into actionable business intelligence, according to Simmonds. Portfolio Solutions aims to help advisors move more efficiently from researching investment products to aligning them to a client's risk objectives and adding them to a portfolio.
Other added capabilities within Wove Investor are slated to roll out later this year, including the ability to transfer money and make deposits, as well as client collaboration tools like screen-sharing and co-browsing features.
Pershing X launched Wove at its 2023 Insite conference. At the time, Simmonds told ThinkAdvisor that the platform would bring together core applications that advisors need, complemented with advanced data reporting and analytics. The platform also supports cross-custodian trading and rebalancing.
Pictured: Ainslie Simmonds
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