Pershing launches a multi-custodian platform 11 June 2014Florida Reporter: Tammy Facey
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BNY Mellon subsidiary Pershing has launched a multi-custodian managed investments platform.
Pershing’s new platform is available through its NetX360 software and aims to bridge the gap between brokers, advisors and clients.
The key feature of the new platform is its ability to accommodate firms that custody with Pershing as well as firms that use other custodians.
John Brett, managing director and head of Pershing’s managed investments group, said: “This new platform gives investors the customisation they now need, within a flexible, fully-integrated model.”
The new platform comes with a host of other features, including clients being able access both retail and managed accounts.
The platform also comes complete with an analytics tool that allows advisors to create investment proposals, and they can adjust and construct models as necessary, using the easy-to-modify platform.
Financial institutions may also benefit from the platform, which offers a self-clearing tool for large companies.
Using the platform, advisors have access to real-time data and it comes complete with Albridge wealth reporting, a portfolio management system.
Pershing created the platform in response to a demand for “tailor-made portfolios”, according to Brett. There were also a number of trends such as the “shift” from commission to fees and the growth of the mutual fund wrap business.
Brett added:"We are currently working with clients to enhance their experiences with the new platform and we expect this process to continue throughout the remainder of the year."
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