BNY Mellon's managed accounts ecosystem brings
unique value and access for advisors
The bundled offering enables RIAs,
broker-dealers and banks to use multiple solutions provided by BNY
Mellon at a discount and could see up to 40% in
savings1
NEW
YORK, June 4, 2024 /PRNewswire/ -- The Bank
of New York Mellon Corporation ("BNY Mellon") (NYSE:BK), the global
financial services company, today announced at its INSITE
conference a bundled offering delivered through Pershing that
enables financial advisors to access the full breadth of
capabilities from across BNY Mellon's leading platforms, including
BNY Mellon Investment Management and BNY Mellon Advisors.
As investors' financial needs continue to become more complex,
they are increasingly looking to their financial advisors for help
across their investment needs. By bundling these services, BNY
Mellon is providing advisors with a holistic, simplified offering,
allowing them to focus more of their time on their clients.
Backed by 240 years of experience across the financial
lifecycle, BNY Mellon is bringing together the firm's managed
accounts platform, asset allocation and manager selection,
investment management products, customized tax solutions, the
interoperable Pershing X's2 Wove platform for advisors,
and custody and clearing services from BNY Mellon's Pershing into a
comprehensive, unified package for clients.
"We want to be the partner that offers our leading capabilities
at scale and all in one place. Importantly, this solution could
offer our clients savings of up to 40%," said Stephanie Pierce, Head of Dreyfus, Mellon and
BNY Mellon Advisors. "Strengthened by BNY Mellon Advisors, this
competitive offering provides a gateway for advisors to meet more
of their clients' unique investment needs and better run their
advisory practices."
BNY Mellon Pershing also offers additional opportunities for
advisors to do more with the firm for less, including decreased
custody fees when advisors invest with BNY Mellon Investment
Management.
"By bringing together the strength of Pershing's offerings with
Investment Management's industry-leading products and the expertise
of BNY Mellon Advisors, we're able to offer more value and the full
breadth of BNY Mellon's services to our clients," said Ben Harrison, Head of Wealth Solutions, BNY
Mellon's Pershing. "This latest innovative offering is another
great example of how we are uniquely positioned to support clients
through every stage of the investment lifecycle."
BNY Mellon is a global financial services company that
helps make money work for the world – managing it, moving it and
keeping it safe. For 240 years we have partnered alongside our
clients, putting our expertise and platforms to work to help them
achieve their ambitions. Today we help over 90% of Fortune 100
companies and nearly all the top 100 banks globally access the
money they need. We support governments in funding local projects
and work with over 90% of the top 100 pension plans to safeguard
investments for millions of individuals, and so much more. As of
March 31, 2024, we oversee
$48.8 trillion in assets under
custody and/or administration and $2.0
trillion in assets under management.
BNY Mellon is the corporate brand of The Bank of New York Mellon
Corporation (NYSE: BK). We are headquartered in New York City, employ over 50,000 people
globally and have been named among Fortune's World's Most Admired
Companies and Fast Company's Best Workplaces for Innovators.
Additional information is available on www.bnymellon.com. Follow us
on LinkedIn or visit our Newsroom for the latest company news.
BNY Mellon Pershing (member FINRA, NYSE, SIPC) is a
leading provider of clearing and custody, trading and settlement,
advisory and investment solutions, data insights, business
consulting and other services to wealth management and
institutional firms looking to grow their businesses. For more
information, go to: pershing.com
BNY Mellon Investment Management is one of the world's
largest asset managers, managing almost $2
trillion across a range of traditional and alternative
assets through seven specialist investment firms – ARX, Dreyfus,
Insight, Mellon, Newton, Siguler Guff, and Walter Scott. For more information:
www.bnymellonim.com.
BNY Mellon Advisors, an investment adviser
registered in the United States
under the Investment Advisers Act of 1940, is the investment
solutions gateway, providing centralized access to BNY Mellon's
comprehensive investment services and expertise and has
$173.6 billion3 in assets
under management or advisement, as of March
31, 2024. BNY Mellon Advisors is dedicated to delivering
integrated investment solutions driven by insights, powered by
innovative technology and focused on helping clients achieve their
objectives.
This press release is qualified for issuance in the US only
and is for informational purposes only. 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.
This press release is issued by BNY Mellon to members of the
financial press and media and the information contained herein
should not be construed as investment advice.
1 This represents estimated potential savings over
what may be paid to various BNY Mellon affiliates for the use of
numerous services on an a la carte basis which were each contracted
for separately. The amount stated is for illustrative purposes
only. Such savings are conditioned on achieving and maintaining a
minimum level of investments in BNY Mellon affiliated products,
and, other conditions. A conflict of interest exists with regard to
certain recommendations of BNY Mellon Advisors (or other BNY Mellon
affiliates) when recommendations are made regarding investments in
products advised by affiliates. Not all clients will be able to
realize this level of savings. The requirement to maintain a
certain threshold amount in BNY Mellon affiliated products creates
a conflict of interest that you may be required to disclose to
investors.
2 Technology services may be provided by Pershing X,
Inc., an affiliate of Pershing LLC, member FINRA, NYSE, SIPC.
Pershing and Pershing X do not provide investment advice or offer
investment advisory products or services.
3 This includes regulatory assets
under management of approximately $19.4
billion which are managed on a discretionary and
non-discretionary basis; approximately $8
billion which is managed by certain BNY Mellon Advisors
employees in their capacity as dual officers of BNY Mellon Advisors
and BNY Mellon, N.A.; and approximately $139
billion managed on a non-discretionary basis where advisory
services are provided to BNY Mellon, N.A. and accounts for which
BNY Mellon Advisors provides a model of securities but does not
arrange or effect the purchase or sale of the securities. For more
information on the services provided for each category of
management, please see BNY Mellon Advisor's most recent ADV Part
2A.
Contact:
Sue Watt
Sue.Watt@bnymellon.com
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SOURCE BNY Mellon