Pershing Advisor Solutions and BNY Mellon’s wealth management advisory custody group have consolidated their bank and brokerage custody offering into a single service.
The combined offering will provide business development, relationship management, client service and technology under a single framework.
Mark Tibergien, CEO of Pershing Advisor Solutions, said: “Registered investment advisors who serve clients with complex financial lives often use a bank custodian for one type of client or account, and a brokerage custodian for different circumstances.”
“Some high net worth clients prefer the perceived safety and soundness of a bank, or use a bank for trusts, foundations and multi-generational relationships, while others prefer the efficiency and support they get from a brokerage custody platform—this allows advisors to now offer the best of both to clients."
