Pershing unveils NetX360 platform for advisers

Pershing LLC has launched NetX360 for advisers, after a two-year project to consolidate existing systems into a single technology. “We've had 500 of our 2,000 technology associates focused exclusively on this re-engineering project,” said Suresh Kumar, chief information officer of Pershing in Jersey City, N.J. The platform monitors compliance, offers a household view of accounts and in the future should provide access to offerings from up to 50 other vendors. NetX360 combines Pershing's NetExchange Pro for commission-based firms and NetExchange Advisor for fee-based advisory practices, as well as a managed account offering and Pershing Prime Services. The objective is for the firm's 100,000 users and five million accounts to switch to the NetX360 platform. There are 500 users on the system. The technology was unveiled at Pershing LLC's Insite user conference in Hollywood, Fla., which begins today. For additional information, visit Pershing's NetX360 website. The platform is available to Pershing's customers today. Broker-dealer and registered investment adviser customers are encouraged to begin working with their Pershing account managers to make sure they meet system requirements and to receive credentials for the new platform.