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Stay up to date with the latest press releases, commentary from Pershing executives, and product and service announcements in The Pershing Press.
| BNY Mellon to Acquire PNCs Global Investment Servicing Business February 02, 2010 - NEW YORK, N.Y., — BNY Mellon (NYSE: BK), the global leader in asset management and securities servicing, today announced a definitive agreement to acquire PNC's Global Investment Servicing Inc. (GIS) business, a leading provider of custody, fund accounting, transfer agency and outsourcing solutions for asset managers and financial advisors. The acquisition will enhance BNY Mellon's leadership position supporting fund managers and financial advisors globally across several business lines while providing the potential for significant revenue and expense synergies. |
| Making the Move from Direct-to-Fund to Brokerage Issue 11, 2010 - More and more, we are seeing investment professionals make the move from direct-to-fund business to brokerage. In a recent conversation with Brendan Sullivan, a Director at Pershing and Manager of its Mutual Fund Operations Department, he noted that, every year for the last seven years, he has seen just over 300,000 mutual fund positions move via the asset movement function in NetX360™ from direct-to-fund to brokerage, with an average of 1,100 to 1,200 positions daily. Why are investment professionals making the move? The initial key driver was an increase in regulatory scrutiny. "The mutual fund world was shaken in 2003-2004 with breakpoint scandals, late trading, market timing, etc.," said Brendan. "Compliance suddenly became a huge ordeal. The brokerage platform will always offer the broker-dealer and its investment professionals a simpler solution from the compliance perspective—in the direct world, it's much more complicated." |
| New Roth Conversion Calculator and Retirement Planning Tools for the New Year Issue 11, 2010 - Momentum is building rapidly around the Roth Conversion opportunity beginning on January 1, 2010, when millions of householders become eligible to convert to a Roth Individual Retirement Account (IRA). Questions from clients are expected to escalate as tax season approaches: Do I convert to a Roth IRA or not? How much should I convert to a Roth? What are the tax considerations of conversion? |
| An Easier Way to Manage Your Clients' Documents Issue 11, 2010 - In conjunction with the release of NetX360™, our complete technology solution to efficiently manage all of your business, Pershing announces the availability of a new, streamlined version of e-Document Suite™. The new e-Document Suite allows you to access electronic copies of your clients' monthly brokerage account statements, Quarterly Performance Reports, Year-End Account Reports and a growing list of investor communications. |
| Prospecting the Affluent Investor Issue 11, 2010 - Certainly, an effective way to boost the number of affluent clients you serve is by expanding your offering to deliver more holistic wealth management—building a practice through which a team of experts provides comprehensive advice in such areas as tax, financial and estate planning. At the same time, however, wooing the affluent investor can be challenging. In fact, the process is considerably more complicated and takes significantly longer than it does for traditional retail investors. |
| Gather New, Small Business Assets with ProCash Plus® Issue 11, 2010 - If you service investors who own small businesses, consider the benefits of ProCash Plus® for their particular needs. Small businesses offer a pool of assets you could tap to help you increase your assets under management and give you an edge on the competition. |
| BNY Mellon's Pershing Advisor Solutions Unit Releases New Study Focusing on Mergers and Acquisitions Activity for Independent Registered Investment Advisors December 09, 2009 - JERSEY CITY, N.J., — A new independent study published by Pershing Advisor Solutions LLC, a BNY Mellon company, and FA Insight finds that while merger and acquisition (M&A) activity slowed during the economic downturn, transactions among independent registered investment advisory (RIA) firms are poised for resurgence, as a new market environment emerges and the pool of potential buyers undergoes dramatic change. |
| BNY Mellon's Pershing Unit Releases New Independent Study Focusing on the Evolving Competitive Landscape November 09, 2009 - JERSEY CITY, N.J., — Pershing LLC, a BNY Mellon company, and Finadium LLC, have published a new independent study that examines the continued emergence of investment managers in the equity long and short marketplace and their convergence with hedge funds. |
| Preparing for 2010 Roth IRA Conversions with Pershing Issue 10 - October/November 2009 - Thanks to changes in the tax code beginning on January 1, 2010, you have a tremendous new opportunity to demonstrate your value to clients by helping them understand the pros and cons of a Roth IRA conversion. |
| Leverage Managed Accounts as a Lending Alternative Issue 10 - October/November 2009 - Broaden your lending solutions by providing your clients the ability to use managed account assets as collateral for a LoanAdvance® nonpurpose loan. |