BNY Mellon’s Pershing X, a technology provider within BNY Mellon Pershing, has launched wealth management platform Wove.
It will integrate the technology tools that advisers use within a single, data-driven platform.
Pershing X president Ainslie Simmonds said: “When building Wove, we went beyond just having integrations and created interconnected experiences for advisers so they can go from planning and portfolio building to account management without having to re-enter data.
“The goal is to help them be more productive and efficient with their time, so they have the ability to serve even more clients.”
Wove will feature core applications such as advanced data reporting and analytics; financial plan building, flexible billing, cross-custodian trading and rebalancing.
Advisers will also have access to direct indexing investment strategies, including the new BNY Mellon Precision Direct Indexing S&P 500, managed by Mellon, BNY Mellon Investment Management’s indexing specialist. The strategy seeks to match the performance of the S&P 500 Index and enables advisers to offer clients customised solutions.
Pershing X also announced that BNY Mellon Advisors will deliver investment solutions through the new platform, by using an in-house team of senior investment professionals from across BNY Mellon.
Jim Crowley, chief executive of BNY Mellon | Pershing, added: “The Wove platform is unique because it has the power, scale and security of BNY Mellon behind it.”
“By leveraging the breadth of innovation from across the firm to create Wove, we are able to provide advisers with seamless technology and best-in-class investment tools to help revolutionise how they serve their clients.”