Source: Bank of New York Company
Pershing LLC, a subsidiary of The Bank of New York Company, Inc., has formed a business alliance with PriceMetrix Inc. enabling PriceMetrix to provide its broad array of solutions to Pershing's introducing broker-dealer customers.
PriceMetrix is a leading provider of products and services that help retail brokerage firms evaluate their businesses and identify growth opportunities.
Through the arrangement, Pershing's introducing broker-dealer customers will have the ability to access specialized reports from PriceMetrix to analyze sales and market intelligence data, develop tailored marketing campaigns, receive consultative advice surrounding commission structures, discount sharing programs and compensation plans, and use a variety of value- added productivity tools such as online calculators and best practice case studies.
Jim Crowley, managing director at Pershing, said, "It is essential for introducing broker-dealer firms to identify ways in which they can help representatives maximize productivity. Pershing is committed to working closely with these firms to effectively incorporate best-of-breed products, services and technology solutions, so they can continue to grow and succeed in the future."
Doug Trott, president and chief executive officer of PriceMetrix, said, "We are enthusiastic about the opportunity to deliver our offerings to Pershing's clients to help them accelerate their growth. The recently awarded business method patent for our peer performance comparison approach to evaluating retail brokerage firms confirms the unique value proposition from which Pershing's customers can now benefit."