Pershing expands fee-based annuity offerings for RIAs
The number of carriers on its RIA custodial platform increased to 20 from seven and the number of fee-based products rose to 70.
Pershing has expanded the number of annuity carriers on its custodial platform for registered investment advisers to 20 from seven and increased the number of fee-based annuity products offered to 70.
Pershing, a unit of BNY Mellon, also is introducing access to more than 55 carriers for corporate and hybrid RIAs, the company said in a release.
Pershing also will offer an expanded referral program, which will include brokerage general agencies and insurance marketing organization. The company said it will move suitability reviews to those groups, which will allow breakaway teams to move insurance products with them as they transition to independence.
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