BNY Mellon’s Pershing Tops Brokerage Statement Best Practices List for Second Year in a Row

February 28, 2020

Receives highest score ever earned by a firm

JERSEY CITY, N.J. — BNY Mellon’s Pershing (“Pershing”) today announced that it earned top honors for Brokerage Investor Statements in DALBAR's 2019 Trends & Best Practices in Investor Statementsi. This is the second consecutive year that Pershing landed the top spot and the highest score ever received by a firm, underscoring Pershing’s commitment to investor communications excellence.

“Not only do investors want a convenient way to locate the information that is critical to understanding how their assets are invested, but they also want to have the flexibility to choose how that information is displayed,” said Katie Swain, director, Global Strategy and Product Management at Pershing. “These enhancements help investors and advisors engage in meaningful conversations that result in more informed investment decisions.”

In 2019, Pershing built upon the improvements made in previous years to include a series of enhancements centered on mutual fund investors. For example, Pershing created a succinct user experience for mutual fund details without sacrificing information. The company also offers firms the ability to feature a new section called Your Mutual Funds, which combines the Mutual Fund Holdings Summary and Mutual Fund Transaction Summary and incorporates informative visual aids to display allocations for the top five mutual fund holdings.

Additionally, Pershing’s brokerage statements place footnotes and annotations in close proximity to the terms they define, providing investors a more accessible way to understand the information presented. The high-level Portfolio at a Glance section includes an additional line item for capital gains distribution. Firms can opt to list capital gains in the Dividends, Interest and Other Income categories or as separate line items for increased transparency. Lastly, the statement now lists all documents that are eligible for paperless delivery rather than just the documents the client currently receives electronically.

“We are invested in the success of our clients and are honored that our ongoing efforts to increase the transparency and accessibility of investment data have been recognized by DALBAR,” added Swain.

i DALBAR's annual Trends & Best Practices in Investor Statements identifies best-in-class communications that assist clients in understanding and managing investments. Each year, hundreds of statements are rigorously analyzed to uncover the leaders in each industry, underscoring their commitment to Excellence in communications.

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 pershing.com, 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 management and investment services in 35 countries. As of March 31, 2020, BNY Mellon had $35.2 trillion in assets under custody and/or administration, and $1.8 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 www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.

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