BNY Mellon's Pershing has launched its new no-transaction-fee (NTF) ETF platform called FundVest ETF. This NTF platform, available to all Pershing clients, will not require purchase minimums or holding periods; it gives Pershing’s clients the flexibility to provide to investors a broad scope of ETFs while reducing explicit costs.

Justin Fay Pershing Director of Financial Solutions

"As the demand for ETFs continues to increase, we are pleased to bring our clients a diverse selection of no-fee ETFs offered on an independent, open architecture platform," states Justin Fay, director of financial solutions at Pershing. Fay is responsible for Alternative Investments and ETFs. "This new offering reaffirms our commitment to expanding the suite of low-cost investment solutions available to our clients as they continue to implement ETFs more frequently within portfolios in an effort to more efficiently meet investor financial goals."

Over the coming months FundVest ETF will expand to add additional providers, and currently presents funds from market-leaders including Direxion, Guggenheim Investments, PowerShares by Invesco, OppenheimerFunds, Pimco, Reality Shares, and SPDR ETFs from State Street Global Advisors.

Clients can access the available funds on FundVest ETF through the ETF Center on NetX360. The ETF Center also features articles and research by Morningstar and Lipper, and offers tools that allows advisors to search, check, and compare ETFs side by side. 

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