The Bank of New York Mellon's Pershing Unit Receives Number One Ranking for Its Customer Account Statement in Annual DALBAR Surv
February 19 2009 - 8:00AM
PR Newswire (US)
JERSEY CITY, N.J., Feb. 19 /PRNewswire-FirstCall/ -- Pershing LLC,
a subsidiary of The Bank of New York Mellon Corporation, announced
today that its account statement for its customers' clients
received the number one ranking in DALBAR Communications' 11th
Annual Trends and Best Practices in Investor Statements for the
Brokerage Industry. Pershing captured the highest score in the
survey and was also recognized with DALBAR's prestigious
"Excellent" designation. Pershing's statement first received the
designation of "Excellent" in 2004 and has maintained this ranking
over the past five years. On DALBAR's 100-point rating scale,
Pershing's total of 89.49 points was well above the average of
74.03 points earned by the 18 financial organizations analyzed in
the survey. DALBAR's analysis rewards those firms that are
positioned to address investor concerns in a way that is easy to
understand and resonates with all statement recipients, including
both advisors and investors. Brian T. Shea, president and chief
operating officer of Pershing, said, "Our account statement is one
of the most important communication tools we deliver to investors
on behalf of our customers. Receiving DALBAR's highest ranking for
achieving best practices in investor statements in the brokerage
industry underscores our continued commitment to offer our
customers industry-leading solutions that enhance the level of
service they provide to investors." DALBAR is a leading financial
services market research and consulting firm that develops
standards for and provides research, ratings and rankings of
intangible factors to the financial services industry. Rating
criteria for its 11th Annual Trends and Best Practices in Investor
Statements for the Brokerage Industry survey included a range of
critical factors, such as statement features that strongly impacted
investors' ability to access and understand important account
information and design elements that positively or negatively
impacted the statement. Pershing LLC (member FINRA/NYSE/SIPC) is a
leading global provider of financial business solutions to more
than 1,150 institutional and retail financial organizations and
independent registered investment advisors who collectively
represent over five million active investors. Financial
organizations, investment professionals and independent registered
investment advisors depend on Pershing's depth of experience and
consultative approach to provide them with forward-thinking
solutions that help them to grow their businesses. Located in 19
offices worldwide, Pershing is committed to delivering dependable
operational support, robust trading services, flexible technology,
an expansive array of investment solutions, practice management
support and service excellence. Pershing is a member of every major
U.S. securities exchange and its international affiliates are
members of the Deutsche Borse, the Irish Stock Exchange and the
London Stock Exchange. Pershing LLC is a subsidiary of The Bank of
New York Mellon Corporation. Additional information is available at
http://www.pershing.com/. The Bank of New York Mellon Corporation
is a global financial services company focused on helping clients
manage and service their financial assets, operating in 34
countries and serving more than 100 markets. The company is a
leading provider of financial services for institutions,
corporations and high-net-worth individuals, providing superior
asset management and wealth management, asset servicing, issuer
services, clearing services and treasury services through a
worldwide client-focused team. It has $20.2 trillion in assets
under custody and administration, $928 billion in assets under
management and services more than $11 trillion in outstanding debt.
Additional information is available at http://www.bnymellon.com/.
DATASOURCE: The Bank of New York Mellon Corporation CONTACT:
Barbara Gallo, +1-201-413-2930, Web Site: http://www.bnymellon.com/
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