Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:BNY Mellon Invests Eight Figures Into Pershing Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, June 06, 2018

BNY Mellon Invests Eight Figures Into Pershing

Reported by Neil Anderson, Managing Editor

A broker-dealer clearing giant and growing RIA custodian is about to go through an eight-figure, multi-year revamp across its whole business.

Today Lisa Dolly, CEO of Pershing, confirms that parent company BNY Mellon will be investing more than $50 million into Pershing in the coming years. A spokesman for Pershing confirms that the investment "will go across all areas of the business, including FundVest [Pershing's NTF mutual fund platform] and the Retirement Plan Network [Pershing's retirement plan platform]."

Broadly, the multi-year investment at Pershing will include: hiring staff in business development, operations, relationship management, service, and technology; a marketing boost and more RIA support; and client experience enhancements like NetX360 Wealth (for B-Ds and RIAs to pull together their advisory, bank custody, and brokerage business) and ManagedConnect (an open-architecture managed account platform).

Dolly also noted that Pershing's RIA custodial platform reached 752 RIAs and $615 billion as of March 31, up 11 percent year-over-year and up more than ten-fold from $53 billion in 2010.

"This is a pivotal time to take our business to the next level so we can maximize our footprint among the professionally managed, growth-oriented RIA firms," states Mark Tibergien, CEO of Pershing's advisor solutions business. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2018: Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2018
40 Wall Street | 28th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use