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

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.

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BNY Mellon’s Pershing
Liz Ozaist
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