BNY Mellon's Pershing introduces new manager gateway
17 October 2019 New Jersey
Image: Shutterstock
BNY Mellon's Pershing (Pershing) has launched Manager Gateway, a consolidated digital solution for investment managers.
A successor to Pershing’s Manager Workstation, Manager Gateway features a centralised portal that helps asset managers act on service requests and orders, automatically collecting and processing the information on behalf of Pershing’s clients.
Manager Gateway includes a workstation application that streamlines day-to-day processes for investment managers and a tool that allows model providers to create, manage and deliver models to investment professionals.
Manager Gateway uses a single ID for easy access to all accounts, account details, billing, corporate actions, transactions and on-demand performance reports. It also eliminates the need for commingled manager codes.
Other capabilities include type-ahead, expanded search, and on-demand access to reports.
Managers can also customise their view using new context search criteria based on firm, style, investment professional and/or account.
It further supports customisable configurations and workflows by discretionary manager, decreasing the need for investment managers to create and maintain multiple versions of the same model.
Discretionary managers receive alerts and can set up manual or automatic approvals, eliminating an extra step for investment professionals. Configurations to adjust cash allocations are also available.
According to Pershing, approximately 400 asset managers who deliver advisory investment solutions to Pershing clients are expected to have access to Manager Gateway by the end of Q4 2019.
A phased migration to the new model will begin in Q4 2019, with completion also expected by mid-year 2020.
Sarah Chain, director of global strategy and product management at Pershing, said: "Demand for model portfolios continues to rise, as advisors increasingly look to scale their business and focus on delivering added value to clients.”
She added: “One of the primary pain points for investment managers is the time they spend replicating models for different clients. Manager Gateway simplifies the client service experience so that model providers only need to enter models once before they're automatically routed to investment professionals.”
A successor to Pershing’s Manager Workstation, Manager Gateway features a centralised portal that helps asset managers act on service requests and orders, automatically collecting and processing the information on behalf of Pershing’s clients.
Manager Gateway includes a workstation application that streamlines day-to-day processes for investment managers and a tool that allows model providers to create, manage and deliver models to investment professionals.
Manager Gateway uses a single ID for easy access to all accounts, account details, billing, corporate actions, transactions and on-demand performance reports. It also eliminates the need for commingled manager codes.
Other capabilities include type-ahead, expanded search, and on-demand access to reports.
Managers can also customise their view using new context search criteria based on firm, style, investment professional and/or account.
It further supports customisable configurations and workflows by discretionary manager, decreasing the need for investment managers to create and maintain multiple versions of the same model.
Discretionary managers receive alerts and can set up manual or automatic approvals, eliminating an extra step for investment professionals. Configurations to adjust cash allocations are also available.
According to Pershing, approximately 400 asset managers who deliver advisory investment solutions to Pershing clients are expected to have access to Manager Gateway by the end of Q4 2019.
A phased migration to the new model will begin in Q4 2019, with completion also expected by mid-year 2020.
Sarah Chain, director of global strategy and product management at Pershing, said: "Demand for model portfolios continues to rise, as advisors increasingly look to scale their business and focus on delivering added value to clients.”
She added: “One of the primary pain points for investment managers is the time they spend replicating models for different clients. Manager Gateway simplifies the client service experience so that model providers only need to enter models once before they're automatically routed to investment professionals.”
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