BNY Mellon Introduces Fee Management Service

BNY Mellon has introduced a fee management service to help asset managers determine which distributors are most efficiently distributing their funds.
By Janet Du Chenne(59204)
BNY Mellon has introduced a fee management service to help asset managers determine which distributors are most efficiently distributing their funds.

Serviced by the custodian’s transfer agency division, the offering is designed to help asset managers understand the services they are receiving for the fees they pay to broker-dealers.

“This service provides our asset manager clients with the opportunity to better understand and reconcile fees paid while providing a broader view into their distributor relationships,” said Michael DeNofrio, head of enterprise investor services for BNY Mellon’s global financial institutions business. “This is a full-service solution that automates functions that many asset managers have been performing manually. Utilizing inefficient, manual systems could potentially result in efficiencies in tracking fund distribution.”

BNY Mellon currently provides shareholder recordkeeping services to over 150 million shareholder accounts with assets of more than $3.9 trillion.

The custodian has contracted with Delta Data Software to provide this service.

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