Wove is an industry-first platform that
enables wealth advisors to seamlessly connect all the components of
a client's financial picture in one place.
NEW
YORK, June 6, 2023 /PRNewswire/ -- BNY Mellon's
Pershing X, a technology provider within BNY Mellon | Pershing
(NYSE: BK), debuted Wove today, a groundbreaking wealth
management platform that integrates the technology tools advisors
use into a single, data-driven platform.
"When building Wove, we went beyond just having integrations and
created interconnected experiences for advisors so they can go from
planning and portfolio building to account management without
having to re-enter data," said Pershing X President Ainslie Simmonds. "The goal is to help them
be more productive and efficient with their time so they have the
ability to help serve even more clients."
Wove will feature the core applications advisors need, such as
advanced data reporting and analytics, financial plan building,
flexible billing, cross-custodian trading and rebalancing.
Additionally, advisors will have access to direct indexing
investment strategies, including the new BNY Mellon Precision
Direct Indexing S&P 500®, managed by
Mellon1, BNY Mellon Investment Management's indexing
specialist. The strategy seeks to match the performance of the
S&P 500® Index and enables advisors to offer clients
customized solutions.
As part of its Wove debut, Pershing X also announced that BNY
Mellon Advisors, Inc. will deliver investment solutions through the
new platform by using an in-house team of senior investment
professionals from across BNY Mellon.
"The Wove platform is unique because it has the power, scale and
security of BNY Mellon behind it," said Jim
Crowley, CEO of BNY Mellon | Pershing. "By leveraging the
breadth of innovation from across the firm to create Wove, we are
able to provide advisors with seamless technology and best-in-class
investment tools to help revolutionize how they serve their
clients."
Media Contact
Liz Ozaist
Email: Elizabeth.Ozaist1@bnymellon.com
Phone: +1 347-528-3559
ABOUT PERSHING X
Pershing X, Inc. is a technology provider, focused on delivering
the most interoperable and data-driven suite of advisory tools in
the wealth management industry. Pershing X technology, including
the Wove platform, is designed to create an effortless and
intuitive experience that is integrated with multiple leading
custodians. This allows wealth management professionals to focus
their time on the business of advice, not technology, in order to
maximize efficiency and optimize the experience for every client.
Investment advisory solutions, if offered, may be provided by BNY
Mellon Advisors, Inc., an investment adviser registered in
the United States under the
Investment Advisers Act of 1940 or one or more affiliates of BNY
Mellon. Pershing X is an affiliate of Pershing LLC, each BNY Mellon
companies. Pershing and Pershing X do not provide investment
advice. Additional information is available on pershingx.com.
ABOUT BNY MELLON'S PERSHING
BNY Mellon's Pershing is a leading provider of clearing and
custody services. We are uniquely positioned to help complex
financial services firms transform their businesses, drive growth,
maximize efficiency, and manage risk and regulation.
Wealth management and institutional firms outsource to us
trading and settlement services, investment solutions, bank and
brokerage custody, middle- and back- office support, data insights
and business consulting.
Pershing brings together high-touch service, an open digital
platform and the BNY Mellon enterprise to deliver a differentiated
experience for every client.
Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company.
With offices around the world, Pershing has over $2 trillion in assets and millions of investor
accounts. Pershing affiliates include Pershing X, Inc. and Lockwood
Advisors, Inc., an investment adviser registered in the United States under the Investment
Advisers Act of 1940. Additional information is available on
pershing.com, or follow us on LinkedIn or Twitter @Pershing.
This Press Release is issued by BNY Mellon to members of the
press and media and the information contained herein should not be
construed as investment advice
or a recommendation of any investment
product. It does not constitute an offer or solicitation of
securities or investment services or an endorsement thereof in any
jurisdiction or in any circumstance in which such offer or
solicitation is unlawful or not authorized.
1 Mellon is a division of Mellon Investments
Corporation (MIC), a registered investment adviser. MIC provides
day-to-day investment advisory services in connection with the
product.
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SOURCE Pershing, LLC