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.

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 pershing.com, 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 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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