The firm, part of BNY Mellon, has set out a strategy to drive its digital services forward.

Pershing, a BNY Mellon company, yesterday set out a “digital enablement” strategy that it says will create a revolution in how advisors and investors work together

The strategy has six elements: Enabling advisors with digital advice; supporting advisors with digital practice management; enabling advisors with “digital pulse”; driving investor-advisor collaboration; streamlining integration and productivity, and pursuing innovation leadership.

“Today’s announcement represents the next step in our long-term strategic plan to deliver a superior investor-advisor experience enabling our clients to transform into a digital business,” Ram Nagappan, managing director and chief information officer of Pershing, said.

Explaining its six strategy elements, Pershing provided the following outlines:    

Digital Advice. Pershing said will offer advisors a selection of adaptive digital advice solutions, including customizable tools that will give advisors the flexibility to maintain ownership of their clients’ assets, leverage their own investing models and easily access solutions through Pershing’s NetX360® platform for advisors and NetXInvestor® for their clients;

Digital Practice Management.  Through NetX360, Pershing will offer advisors access to Vestorly, a digital content management platform. The integration of Vestorly is intended to help advisors strengthen client engagement and drive qualified leads by providing them with an automated collection of high-quality marketing content to augment their client communications plans and make sharing easy with their investors;
 
Data-Driven Insights. The firm said it wants to digitize existing services through more automation, trend analysis tools, data visualization, and leveraging predictive analytics to provide advisors with meaningful data-driven insights to help them manage risk and drive new revenue opportunities;
 
Investor-advisor collaboration.  Pershing’s ongoing commitment to enhancing investor-advisor collaboration is reflected in its integrated suite of solutions that refine the user experience and improve how advisors interact with their clients. Pershing said it is focusing on delivering document sharing capabilities, video collaboration, enriched mobile experiences for advisors and investors, including apps that provide investors with updates via wearable devices;

Next Generation of Integration. The firm said it is creating an enterprise-wide Application Program Interface store instead of vertically integrating applications. The API store will, it says, enhance Pershing’s technology ecosystem by making it easy for Pershing’s clients and third-party providers to use its services directly through their own technology;

Innovation Centers. Pershing said wants to continue driving innovation and attract talent though a network of such centers. These include the recent addition of BNY Mellon’s flagship center in Silicon Valley along with a global center of excellence in New Jersey and two in India, in Pune and Chennai.