Arete Wealth is expanding its clearing and custody services through a juiced-up partnership with BNY Pershing.
The prominent independent broker-dealer and RIA firm said Friday that it has entered into new long-term clearing, custody, and technology agreements with BNY Pershing.
“We're proud to be deepening our relationship with Arete Wealth, a firm whose focus on providing its advisors with the right resources to scale and serve clients matches our mission to help advisors help more people," Ben Harrison, head of wealth solutions at BNY Pershing, said in a statement Friday.
Under the bolstered partnership with BNY Pershing, Arete Wealth’s advisors have been given access to BNY Pershing X's Wove wealth management platform. Designed for RIAs, broker-dealers, and wealth firms, it helps advisor users see the disparate pieces of an investor’s financial picture in one place with offerings that include Wove Investor, Wove Data, and Wove Advisory's Portfolio Solutions.
In June, BNY Mellon announced a new offering that packages together investment capabilities from across its platforms, which includes the Pershing X Wove platform.
“Their decision to use our Wove wealth management platform, along with the new suite of Wove products unveiled just last month, is a testament to the strong collaboration we've built over the years," Harrison said.
Arete Wealth offers support to RIAs, wealth managers, and advisor teams seeking a sophisticated business experience in investing. Beyond traditional wealth management products, Arete Wealth's alternative investment platform includes over 60 offerings from sponsors across various sectors such as artwork, hedge funds, private equity, venture capital, and real estate.
"We are thrilled to collaborate with one of the top providers of clearing and custody services in the industry," said Joshua Rogers, CEO and founder of Arete Wealth.
"As we expand and enhance our wealth management platform, Pershing's commitment to high-growth, sophisticated wealth managers, along with its focus on innovative technology offerings, makes them a perfect provider for our elite financial advisors," Rogers said.
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
