BNY Mellon Wealth Management has launched a new Internet platform for family offices and wealthy individuals that provides a comprehensive view of a client’s entire relationship with the company while offering powerful reporting, information delivery, notification and collaborative tools.
The new platform, called Private Workbench, builds on the organisation’s institutional capabilities to serve its clients and is the result of an 18-month, multimillion dollar effort involving extensive research and development with a cross-section of family offices, advisors and individuals.
“Our site provides clients with a single sign-on view of their entire wealth management relationship with us and it offers innovative and personalized capabilities that are unequaled in the industry. As the smart use of technology increasingly differentiates providers in the wealth management space, Private Workbench will provide a pathway to service excellence and client satisfaction that few providers can match,” says David F. Lamere, CEO, BNY Mellon Wealth Management.
By focusing on the preferences and needs of its clients, BNY Wealth Management designed a number of user-friendly features in Private Workbench, such as allowing family office clients to view units of a family partnership or pool based on his or her percentage of ownership and to drill down to individual security holding views. Clients can also use the platform’s data warehousing capabilities for convenient storage and history of client statements, tax documents, and communications.