Pershing adds analytics tools to adviser platform

Tool aimed at helping advisers measure business growth excluding market performance

Oct 8, 2019 @ 4:29 pm

By Ryan W. Neal

BNY Mellon Pershing is adding a new suite of reporting and analytic tools for NetX360 to help advisers measure the organic growth of their business.

With its Money in Motion tool, advisers can track net new asset flows and segment them by account type, investment type and geographical location. Managers also can break down new assets by advisers at their firm.

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Money in Motion also will show details about how money and securities are transacting in or out of the firm via checks, wires, disbursements, rollovers, fees, tax withholdings, Automated Clearing House (ACH) and Automated Customer Account Transfers (ACAT).

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The idea is to give advisers a more accurate understanding of how they are gathering and retaining client assets irrespective of markets, said Tim Foley, Pershing managing director.

"The longest running bull market in history has provided a nice tailwind for financial professionals, often masking the underlying business performance," Mr. Foley said in a statement.

Beyond tracking asset flows, advisers can set growth benchmarks and measure progress towards business goals that matter most to them. For example, firms can choose to include or exclude dividends, interest and other investment income from net new asset flows on Money in Motion, which is available now, free of charge, on its NetX360 platform for advisers.

This feature can help firms adopt a forward-looking approach to client segmentation, Mr. Foley said.

[More: Pershing draws inspiration from consumer apps to drive RIA tech strategy]

"Once financial professionals see the patterns of inflows and outflows, they will have a better understanding of their own business drivers and be able to use that intelligence to make decisions that are focused on long-term, sustainable growth," he added.


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