Wealth management firm boosts online overview capabilities for HNW clients. BNY Mellon Wealth Management is out with a new Internet portal, called Private Workbench. It's meant to give family offices and individual investors comprehensive overviews of their relationship with the company as well as notification and collaboration tools.

"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," says BNY Mellon Wealth Management CEO David Lamere. "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."

Panic calls

BNY Mellon says Private Workbench "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."

Some wealth-managers -- no doubt conscientious and well meaning for the most part -- are leery of giving their clients online access to portfolio-performance for fear that clients may question long-term investment strategies, especially during market downturns.

Boston-based BNY Mellon Wealth Management provides proprietary investment management, wealth-planning, private-banking and finance services to wealthy individuals and families and associated institutions. It has approximately $170 billion in private-client assets and a network of more than 80 offices. -FWR

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