Pershing LLC, a subsidiary of The Bank of New York, has announced its plan to focus on registered investment advisors (RIAs) through its Pershing Advisor Solutions unit (which previously operated under the name Pershing Investment Manager Solutions).
Pershing Advisor Solutions aims to help RIAs through reporting, access to education, training and market support and clearing and execution and custody services. The new solution will also enable introducing broker-dealers to consolidate assets that their dually registered advisors may have with a third-party custodian onto one platform.
John Iachello, managing director at Persihng Advisor Solutions, said, “Pershing is uniquely positioned to assist all players in this space [RIAs], regardless of their size or needs.”