JERSEY CITY, N.J., June 3, 2019 /PRNewswire/ -- BNY Mellon's
Pershing ("Pershing") today announced a series of enhancements to
its Subscribe® annuity platform, which helps
advisors streamline how they process, service and maintain
annuities. Among the key updates is eSignature capability, which
will set a new standard for the industry and change the way
advisors purchase annuities.
The enhancements to Subscribe will make it more user-friendly
and efficient, helping advisors capture a bigger share of the
growing annuity market.
"We are thrilled to be at the forefront of an industry shift
toward digitization," said Hans
Schemmel, director of retirement, insurance-based and cash
management solutions at Pershing. "Our goal is to empower advisors
to meet the growing demands of investors while delivering faster,
more efficient service. These enhancements, combined with the depth
and breadth of our current investment and retirement solutions,
demonstrate our commitment to this space and advance our leadership
in the industry."
Available through Pershing's NetX360® platform,
Subscribe enables advisors to electronically submit annuity
transactions and interface with many of the country's leading
insurance companies. It also features an Annuity Analytics
Dashboard as well as Pershing's approval and oversight tools—all
designed to help firms and advisors increase efficiencies and
transparency and achieve improved oversight. Subscribe allows
networking of contracts to brokerage accounts, helping advisors and
clients get a more complete picture of their portfolios.
The latest improvements to Subscribe include a more intuitive
user interface and navigation, as well as eSignature capabilities
with select carriers.
Among the key enhancements to the Subscribe platform are:
- New eSignature capabilities, enabling advisors
to:
- Submit transactions for eSignature with participating insurance
carriers.
- Upload eSigned documents to the Subscribe approval workflow
automatically and avoid signature paperwork.
- Experience potentially speedier contract issuance and faster
commission payments.
- Integrated administrative tools in
NetX360, allowing for easier management and
activation of carrier offerings.
- Enhanced customized forms capabilities, allowing firms
to generate and populate their suitability documents, along with
carrier documents, using reflexive technology.
- Improved look and feel and a new order-entry
platform, consolidating the screens and tasks that were
previously spread over multiple screens.
In addition to these enhancements, the Subscribe platform
currently supports advisors' fee-based business, including trading,
networking, billing, as well as some performance reporting of
carriers' fee-based annuities.
Looking ahead, Pershing is working on integrating Subscribe into
its managed accounts platform to create a seamless, end-to-end
experience for advisors to include fee-based annuities in a managed
account. The integrated solution will enable advisors to include
fee-based annuities in an investment proposal as well as provide
access to performance reporting and statements.
"By further integrating our fee-based annuity capabilities with
managed accounts, we will empower our clients and their advisors to
support the entire wealth spectrum and provide goals-based advice
to their investors," said Rob
Cirrotti, managing director, global strategy and product
management at Pershing, commenting on the upcoming integration of
Subscribe into Pershing's managed accounts platform.
For more information on Pershing's Subscribe platform, please
visit the Annuity Solutions page.
About BNY Mellon's Pershing
BNY Mellon's Pershing and
its affiliates provide advisors, broker-dealers, family offices,
hedge fund and '40 Act fund managers, registered investment advisor
firms and wealth managers with a broad suite of global financial
business solutions. Many of the world's most sophisticated and
successful financial services firms rely on Pershing for clearing
and custody, investment and retirement solutions, technology,
enterprise data management, trading services, prime brokerage and
business consulting. Pershing helps clients improve profitability
and drive growth, create capacity and efficiency, attract and
retain talent, and manage risk and regulation. With a network of
offices worldwide, Pershing provides business-to-business solutions
to clients representing approximately 7 million investor accounts
globally. Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon
company. Additional information is available on pershing.com,
or follow us on Twitter @Pershing.
About BNY Mellon
BNY Mellon is a global investments
company dedicated to helping its clients manage and service their
financial assets throughout the investment lifecycle. Whether
providing financial services for institutions, corporations or
individual investors, BNY Mellon delivers informed investment
management and investment services in 35 countries. As of
March 31, 2018, BNY Mellon had
$33.5 trillion in assets under
custody and/or administration, and $1.9
trillion in assets under management. BNY Mellon can act as a
single point of contact for clients looking to create, trade, hold,
manage, service, distribute or restructure investments. BNY Mellon
is the corporate brand of The Bank of New York Mellon Corporation
(NYSE: BK). Additional information is available
on www.bnymellon.com. Follow us on
Twitter @BNYMellon or visit our newsroom
at www.bnymellon.com/newsroom for the latest company
news.
Sanuber Grohe
+1 201 413 2247
sanuberbilguvar.grohe@pershing.com
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SOURCE BNY Mellon