BNY Mellon’s Pershing Deepens Technology Consulting Capabilities

June 13, 2019

Launches tech assessment tool to help firms drive better ROI from technology

PHOENIX – BNY Mellon’s Pershing (“Pershing”) today announced significant enhancements to its technology consulting capabilities, which include the launch of a new assessment tool to help advisory firms pinpoint their technology needs, identify the right technology stack and drive better returns on technology investments.

“Technology decisions are becoming increasingly complex and consequential,” said Christina Townsend, head of Advisor Solutions platform strategy at BNY Mellon’s Pershing. “Our response is—and has always been—that technology is a means to an end. It needs to be viewed within the context of business and client experience goals to deliver the best value. By developing a holistic technology consulting process and enhancing our consulting capabilities with analytics tools, we are doubling down on our commitment to help clients drive increased value from technology.”

Pershing’s advisory assets reached $665 billion at the end of the first quarter of 2019, marking eight percent year-over-year growth. As advisory firms look to maintain momentum and capitalize on new opportunities in the market, they are turning to technology to help drive scale. In a recent poll conducted at Pershing’s 2019 Elite Advisor Summit, 80 percent of advisory firms said they are planning to increase technology investments in 2019 and 62 percent said they are prioritizing technology integration as the top focus for investments.

“Advisory firms are finding it more and more challenging to identify the right technology stack,” added Townsend. “Our expanded consulting capabilities are designed to help clients focus on those investments that will have the biggest impact on business.”

A Unique Approach to Technology Implementation

Pershing’s technology consulting process, which is based on Pershing’s broader business consulting services, begins with an in-depth review of a firm’s strategic vision to ensure that the Pershing team sets a clearly defined goal that is aligned with the client’s objectives. The team then reviews the client’s operational and administrative environment to understand how things operate before making recommendations. Finally, the team reviews available market solutions for a strategic fit with the client’s business objectives and operating environment—with the ultimate goal of making measurable recommendations.

“My team will not take a technology-first conversation,” continued Townsend. “When engaging with a firm, we take stock of the entire ecosystem. We then apply our knowledge of the market to the client firm’s vision and environment. This allows us to come up with recommendations best suited to the client’s needs and most likely to yield results.”

A Brand New Tool to Assess Technology Needs

Pershing also announced today the launch of its Tech Assessment Tool—powered by ActiFi—which helps advisory firms navigate the crowded software market and identify the best tools and platforms for their businesses. The Tech Assessment Tool gathers information about an advisory firm’s technology needs and generates a report containing recommendations for software solutions. The report compares solutions in terms of cost, implementation, integrations, data management, special features, ease of use and other factors. It also includes in-depth profiles of vendors, guidance for creating a Request for Proposal (RFP), and recommendations for implementation.

The Tech Assessment Tool will be leveraged by Pershing’s growing team of technology consultants who work side-by-side with advisory firms with the sole focus of helping clients achieve their digital transformation goals.

“The Tech Assessment Tool will add a new dimension to our conversations with clients by quantifying the value of a technology investment before implementation takes place,” added Townsend. “And regardless of whether the best solution for the client is Pershing technology or a third-party solution, our consultants are here to help clients with all their technology decisions and see them through the entire implementation process.”

Pershing’s technology consultation services are an extension of its business consulting services and the Tech Assessment Tool is based on the award-winning Business Metrics and Assessment Tool.

By partnering with a Pershing technology consultant, clients receive one-on-one guidance throughout the procurement process—from business evaluation and RFP writing to software selection and implementation. This unique service ensures that the client invests in technology that fits their needs.

About BNY Mellon's Pershing

BNY Mellon’s Pershing and its affiliates provide advisors, broker-dealers, family offices, hedge fund and ’40 Act fund managers, registered investment advisor firms and wealth managers with a broad suite of global financial business solutions. Many of the world’s most sophisticated and successful financial services firms rely on Pershing for clearing and custody, investment and retirement solutions, technology, enterprise data management, trading services, prime brokerage, managed account technology and operations and business consulting. Pershing helps clients improve profitability and drive growth, create capacity and efficiency, attract and retain talent, and manage risk and regulation. With a network of offices worldwide, Pershing provides business-to-business solutions to clients representing more than seven million investor accounts globally. Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company. Professionally advised managed accounts are offered through its affiliate, Lockwood Advisors, Inc., which is an investment adviser registered in the United States under the Investment Advisers Act of 1940. Additional information is available on, or follow us on Twitter @Pershing.

About BNY Mellon

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of June 30, 2020, BNY Mellon had $37.3 trillion in assets under custody and/or administration, and $2.0 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on Follow us on Twitter @BNYMellon or visit our newsroom at for the latest company news.