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

March 17, 2021

Once again, 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 2020 Trends & Best Practices in Investor Statementsi. This is the third consecutive year Pershing landed the top spot and the highest score ever received by a firm for the second consecutive year, underscoring Pershing’s commitment to investor communications excellence.

“Investors want complete transparency across positions, whether domestic or foreign in addition to opportunities to sort their investments under different scenarios,” said Katie Swain, director, Global Strategy and Product Management at Pershing. “Our enhancements enrich the investor experience by providing straight-forward information required to make thoughtful and informed investment decisions.”

In 2020, Pershing built upon changes made in previous years to include a series of improvements centered on:

  • Delivering more consistency throughout the investor statement, increasing clarity of information and providing a better overall client experience.
  • Enabling financial professionals and advisors to segment dividend income by qualified/non-qualified across three options: equity, money market and other to provide a more focused approach for investor conversations.
  • Providing enriched investor education in response to the CARES Act and the change to required minimum distributions (RMDs)--distributions from employer-sponsored retirement plans, traditional individual retirement accounts (IRAs), simplified employee pensions, or SIMPLE IRAs.
  • Making it easier to better identify and reconcile currency trading activity.

“We want investors and their financial professionals to have comprehensive information that empowers them to be successful,” added Swain. “We value this recognition from DALBAR for our efforts in delivering investment data that is both easy to understand and use.”

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.

1 DALBAR's annual Trends & Best Practices1 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.

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