NextCapital and Pershing announce retail digital advice for large institutions

Source: NextCapital

NextCapital, the leading enterprise digital advice firm, today announced that it has selected Pershing Advisor Solutions as its custodian to enable scalable personal advice delivery for large financial institutions.

"Our collaboration with Pershing Advisor Solutions allows institutions to be up and running with digital advice faster, reduce custodial costs, and deliver a high-powered experience for investors," said John Patterson, Chief Executive Officer of NextCapital.

Mr. Patterson added, "Our institutional partners appreciate this given the emergence of digital advice and urgency caused by the pending fiduciary rule."

NextCapital provides institutions with an integrated platform for delivering automated personal financial advice to investors -- including holistic portfolio tracking, planning, savings advice and portfolio management.

"The Pershing-NextCapital agreement is all about ushering financial institutions into the age of digital wealth management," said Mark Tibergien, Chief Executive Officer of Pershing Advisor Solutions. "This integration with NextCapital is consistent with our ongoing strategy to digitally enable advisors and institutions that custody with Pershing Advisor Solutions."

NextCapital enables institutional partners to rapidly and cost-effectively bring to market a full-stack digital advice solution that is specifically built to support the demanding configuration requirements of large institutions. Features include:

  • Custom user experience
  • Proprietary or third party investment methodology
  • Self-service and advisor-assisted service models
  • Multi-channel - supporting 401(k), IRA, and retail brokerage accounts
  • Integrations with 401(k) record keeping systems and now, Pershing Advisor Solutions.

NextCapital's new integration to Pershing's NetX360 platform provides institutions with the best of both worlds: NextCapital's enterprise digital advice platform, tightly integrated to Pershing Advisor Solutions world-class custodial platform.

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