BNY Mellon’s Pershing Integrating Platforms for Advisors

BNY Mellon’s Pershing is integrating NetX360+, its custody platform and Wove, its wealth management platform to allow advisors to move seamlessly between the two. According to a story in MarketsMedia news, the firm recently reviewed its strategy and committed to interoperability and a multi-year investment to integrate NetX360+ and Wove. The firm expects the trends of consolidation, the growth of alternatives and the need for talent to persist, alongside the growth of model portfolios and direct indexing. As a result, the demand for high quality advice will increase, as will consumer expectations around service and experience.