October 8, 2019
Digital tool provides advisors with a view of net new asset flows, allowing them to identify and focus on high growth areas of their business
JERSEY CITY, N.J. — BNY Mellon’s Pershing (“Pershing”) today announced that its latest digital solution, Money in Motion analytics (see video), is now available to its clients. The tool enables financial professionals to measure organic growth by isolating the effects of market performance on their business and is free of charge to clients on the NetX360® platform.
“The longest running bull market in history has provided a nice tailwind for financial professionals, often masking the underlying business performance,” said Tim Foley, managing director at Pershing. “Money in Motion addresses that very issue by helping financial professionals answer the key question, ‘How am I doing in terms of gathering and retaining client assets irrespective of market performance?’ ”
Money in Motion allows financial professionals to track net new asset flows, as well as set growth benchmarks and measure progress against those benchmarks, giving them control over the future of their business.
Money in Motion provides an in-depth view of money and securities movements by tracking transactions related to checks, Automated Clearing House (ACH), wires, disbursements, rollovers, fees, Automated Customer Account Transfer Services (ACAT) transfers, non-ACAT transfers, tax withholdings and more.
Financial professionals using the tool can also set their own net new assets criteria to focus on factors that matter most to their business. For example, they can choose to include—or exclude—dividends, interest, and other investment income from net new asset flows.
Further, Money in Motion can break down net new asset flows in various ways, including by account or investment type, as well as by financial professional and geographical location.
Money in Motion will also enable financial professionals to adopt a more forward-looking approach to client segmentation.
“Once financial professionals see the patterns of inflows and outflows, they will have a better understanding of their own business drivers and be able to use that intelligence to make decisions that are focused on long-term, sustainable growth,” concluded Foley.
Money in Motion offers historical data going back to Jan. 1, 2017. This integration follows the heels of Pershing’s announcement at INSITE 2019 of several strategic initiatives aimed at helping clients accelerate the digitization of their business processes.
For an informational video on how Money in Motion analytics works, please click here.