BNY Mellon’s Pershing Launches Fee-Based Annuities in Its Managed Accounts Solution

December 11, 2019

JERSEY CITY, N.J. — BNY Mellon’s Pershing (“Pershing”) today announced that it has completed the integration of its managed accounts technology with its annuity order entry platform, Subscribe®, delivering advisors streamlined annuity purchasing and servicing capabilities within its managed accounts solution.

The integrated solution supports over 70 fee-based annuity products from 18 carriers and is designed to deliver a seamless experience for advisors looking to incorporate fee-based insurance products into the wealth management process.

“Increasingly, advisors are turning to managed accounts to achieve a higher degree of customization and greater tax efficiencies,” said Sarah Chain, director of Global Strategy and Product Management at Pershing. “Access to annuities within managed accounts will allow advisors to provide comprehensive wealth management, including retirement income strategies.”

The integration of Pershing’s managed accounts technology and Subscribe will deliver advisors an end-to-end experience—from proposal to performance reporting— and enhance their ability to deliver holistic financial advice.

Specifically, the solution will allow advisors to:

  • Efficiently construct a proposal inclusive of fee-based annuities.
  • Build a custom allocation mix in a flexible variable annuity model.
  • Open a managed account (including all pre-filled insurance carrier paperwork and the ability to share for eSignature).
  • Purchase an annuity contract (electronically).
  • Provide account oversight.
  • Aggregate for billing.
  • Receive daily detailed holdings and balance updates, or run on-demand and quarterly performance reports.

For advisors with previous annuity positions, the new solution will also offer the ability to network those existing positions into the managed account.

“Annuities offer advisors a valuable option to help meet client financial goals,” said Hans Schemmel, director of Retirement and Insurance-Based Solutions at Pershing. “Currently, these products are often managed independently. Providing advisors with access to fee-based annuities and investment advisory accounts will allow them to simplify the wealth management process and drive better efficiencies.”

The integration will help drive new efficiencies for advisors via direct connectivity to carriers, integration for compliance requirements (including broker-dealer forms), simplified record keeping through online document storage, and management of investment policy governance through risk tolerance alignment.

For more information on Pershing’s managed account solutions, please visit here.

About BNY Mellon's Pershing

BNY Mellon’s Pershing is a leading provider of clearing and custody services. We are uniquely positioned to help complex financial services firms transform their businesses, drive growth, maximize efficiency, and manage risk and regulation.

Wealth management and institutional firms outsource to us for trading and settlement services, investment solutions, bank and brokerage custody, middle and back office support, data insights, and business consulting.

Pershing brings together high-touch service, an open digital platform and the BNY Mellon enterprise to deliver a differentiated experience for every client.

Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company. With offices around the world, Pershing has over $2 trillion in assets and millions of investor accounts. Pershing affiliates include Albridge Solutions, Inc. and Lockwood Advisors, Inc., an investment adviser registered in the United States under the Investment Advisers Act of 1940. Additional information is available on, or follow us on LinkedIn or 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, 2021, BNY Mellon had $45.0 trillion in assets under custody and/or administration, and $2.3 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.