BNY Mellon Pershing will offer a managed account platform open to all in the fall.
The Jersey City, New Jersey-based custodian said its Managed Accounts Central platform will be open to its own clients, as well as, to firms that do not custody with Pershing. The platform will allow wealth managers to oversee their advisory business across custodians through a single solution, with users being able to outsource their managed accounts technology as well as their investment advisory solutions, or a combination of both.
“Our new offering is designed to address the need to streamline the process of running managed accounts,” said Sarah Chain, the firm’s director of global strategy and product management.
Managed accounts are projected to grow to $11.6 trillion in 2023 from $7.4 trillion at the end of 2019, according to Cerulli Associates.
Christopher Blotto moved this month to Janney Montgomery Scott.
Finturk also added new form-filling and cash sweep tools to its AI-first CRM platform, while Zeplyn builds advisor coaching into its own AI operating system
“Ultimately, you just try to embrace collaboration,” said Greg Merrill of UBS.
Building on its Personal Office platform, NorthRock Partners' latest transaction brings more than $200 million in assets under management and five employees to the growing RIA.
Expanded deal pairs succession-planning software with a broker-dealer network already logging rapid AI adoption among 11,000 advisors.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
