Pershing plans custodial platform for independent advisers

Source: Pershing

Pershing Limited, a BNY Mellon Company, today announced its plans to launch a custodial platform this October which will target independent financial advisers and financial planning businesses.

Pershing's offering is an open architecture, customisable solution providing advisers with a single point of custody and asset administrationfor all asset classes. It also utilises Pershing's global trading capabilities and technology solutions including an advanced adviser workstation with an integrated portfolio management system and investor portal.

Drawing upon Pershing's experience in the US Registered Investment Adviser (RIA) market, over the past 18 months Pershing has tested the platform to ensure it delivers a front-to-back office solution that meets the needs of independent advisers in the UK. The new platform goes beyond providing custody to deliver a complete range of solutions for addressing the key challenges of managing independent business. Most importantly, the service allows advisers to put their brand first; including such offerings as customisable white-labelled statements, while benefiting from Pershing's resources and dedication to service.

"We know that by 2013, the adviser market will be very different and we are focused on serving growth-oriented, professionally-managed advisers who serve investors with complex financial lives," said Charles van der Merwe, CEO of Pershing Limited, "We believe this segment of the adviser market will benefit most from the changes resulting from the Retail Distribution Review (RDR) and we are well placed to help these advisers grow their businesses because the service offers whole-of-market, multi-currency, multi-asset class options in an easy to use format. The solution meets the needs of both the adviser and their investors."

Ahead of the full launch, Pershing has already partnered with a number of adviser firms, such as Attivo Financial Services, who have realized the benefits offered by the service. Pershing has seen positive feedback from clients citing the flexibility and fully-integrated nature of the platform as some of the most compelling aspects of the offering.

"We wanted to be able to move away from the restricted nature of conventional platforms, have greater operational control and offer a totally transparent service to our clients," said Stephen Harper, Managing Director of Attivo Financial Services Limited, "After fully researching the available options, Pershing came out as the market leader in every respect." 

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