Pershing to launch new custody platform for independent advisers
Pershing Limited, a BNY Mellon company, will launch a custodial platform in October targeting independent financial advisers and financial planning businesses.
The platform will have an open architecture, be customisable and provide advisers with a single point of custody and asset administration for all asset classes. It will use Pershing’s global trading capabilities and technology including an advanced adviser workstation with an integrated portfolio management system and investor portal.
Drawing upon the company’s experience in the US Registered Investment Adviser (RIA) market, the platform has been tested over the past 18 months to ensure it delivers a front-to-back office solution that meets the needs of independent advisers in the UK.
The platform goes beyond providing custody to deliver a complete range of solutions for addressing the key challenges of managing independent business. The service will allow advisers to put their brand first; including customisable statements, while benefiting from Pershing’s resources.
“By 2013, the adviser market will be very different and we are focused on serving growth-oriented, professionally-managed advisers who serve investors with complex financial lives,” said Charles van der Merwe, CEO of Pershing Limited, “We believe this segment of the adviser market will benefit most from the changes resulting from the Retail Distribution Review (RDR).
Pershing said it has already partnered with a number of adviser firms including Attivo Financial Services.