BNY Mellon's Pershing unit has unveiled a host of initiatives designed to help clients streamline and digitise their wealth management efforts.
Pershing CIO Ram Nagappan says that the technology revolution is creating "new pressure points" for the wealth management industry. The firm is looking to help advisors deal with this by streamlining business and letting them spend more time delivering value-added services to investors.
Specifically, Pershing is offering multiple account opening capability, expanded e-signature opportunities and a dynamic forms offering with fewer pages and signatures for streamlined client onboarding.
The firm is also rolling out a new capability, Money in Motion Dashboard, which will help advisors measure their overall business performance outside of the markets and identify trends in their business through net asset flows and key performance indicators.
Meanwhile, click-to-call chat for advisors will allow for real-time problem solving and screen sharing via the Pershing portal, and mobile alerts are coming for cash disbursement authorisation and verification.
Pershing is also stressing how it can help advisors create "differentiated experiences" through integration with third parties via APIs and expanding capabilities in NetXInvestor to offer more self-service and wealth planning features for investors.
“We continue to bring the latest technologies to the wealth management community to help them transform and digitize their business models. These efforts demonstrate our commitment to building an ecosystem that will support our clients’ changing business needs far into the future,” says Nagappan.