The Bank of New York Mellon's Pershing Advisor Solutions Unit Expands Fixed Income Capabilities for Independent Registered Inves
May 06 2009 - 8:00AM
PR Newswire (US)
JERSEY CITY, N.J., May 6 /PRNewswire-FirstCall/ -- Pershing Advisor
Solutions LLC, a subsidiary of The Bank of New York Mellon
Corporation (NYSE: BK), announced today that its independent
registered investment advisor (RIA) customers now have access to a
broader array of fixed income investment choices to help them
achieve their clients' long-term financial goals. These enhanced
capabilities are being offered to RIAs through BondWave Advisors'
Program Portfolios(TM) solution. BondWave Advisors is a division of
BondWave LLC, a leading provider of solutions to the fixed income
markets. BondWave Advisors' Program Portfolios solution enables
Pershing's RIA customers to create and manage individual fixed
income accounts for their clients using a model-based investment
strategy. RIAs have the ability to white-label the offering and
maintain control of their clients' assets while continuing to
direct the entire investment process. These activities include
strategy selection, portfolio monitoring services, customized
electronic messaging and reporting. Program Portfolios provides
Pershing Advisor Solutions' RIA customers with the underlying
investment methodologies and technical platform to support this
unique fixed income investment approach. Mark Tibergien, chief
executive officer of Pershing Advisor Solutions, said, "We
continuously explore opportunities to provide our customers with
innovative capabilities and business solutions to help them enhance
their efficiency, productivity and the quality of service they
deliver to their clients. The introduction of Program Portfolios
underscores our continued commitment to provide RIAs with a broad
array of robust global trading solutions that will help them grow
their businesses." Russ Graham, chief executive officer of BondWave
LLC, added, "Program Portfolios provides RIAs with a turnkey
portfolio management solution that helps ease the complexities of
managing their clients' fixed income investment portfolios. We are
pleased to have the opportunity to work closely with Pershing and
are confident that the suite of capabilities and resources offered
through Program Portfolios will enable Pershing's RIA customers to
better manage their clients' fixed income holdings in a more
efficient and effective manner." Pershing Advisor Solutions LLC
(member FINRA/SIPC) is an affiliate of Pershing LLC and a leading
provider of financial business solutions to independent, fee-based
registered investment advisors and dually-registered advisors
working in conjunction with many of Pershing LLC's introducing
broker-dealer customers. Pershing LLC (member FINRA/NYSE/SIPC), a
subsidiary of The Bank of New York Mellon Corporation, is committed
to delivering dependable operational support, robust trading
services, flexible technology, an expansive array of investment
solutions, practice management support and service excellence.
Through an innovative custody platform, Pershing Advisor Solutions
delivers superior expertise and scalable and customizable solutions
to help its customers manage and grow their fee-based businesses.
Additional information is available at
http://www.pershingadvisorsolutions.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 $19.5 trillion in
assets under custody and administration, $881 billion in assets
under management, services more than $11 trillion in outstanding
debt and processes global payments averaging $1.8 trillion per day.
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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