Pershing offers consulting services through iNautix

FWR Staff

20 November 2007

Clearing firm's India-based technology affiliate to provide advice to IBDs. iNautix, an affiliate of Bank of New York Mellon's clearing subsidiary Pershing, is out with a suite of business consulting services to help Pershing's broker-dealer and RIA clients run their businesses more efficiently.

"The knowledge our business consulting specialists have acquired from analyzing many top performing broker-dealer and RIA firms has provided us with an intimate understanding of the business, operational and organizational challenges facing these types of firms," says iNautix's CEO Suresh Kumar. "Our comprehensive suite of business consulting services is designed to provide broker-dealer and RIA firms with the strategies and solutions they need to successfully grow their businesses."

Cross sale

The new suite of services includes a process of business review that offers recommendations to enhance the efficiency of policies, workflows and controls. New initiatives are shepherded through to completion by iNautix project managers, who also determine feasibility, assess risk, and provide timelines.

iNautix also provides financial analysis for greater transparency, expense analysis to boost bottom-lines, and re-engineering assistance to reduce costs and measure performance.

Proffering consulting services to its enterprise clients makes solid sense for Pershing, according to Adam Honoré, a senior analyst with Boston-based business consultancy Aite Group. "Introducing brokers are faced with data consolidation challenges, electronic documents and document retention, and other technology challenges," he says. "Pershing is applying the same business model here than banks are doing in cross-selling: acquire more than one relationship with your customer and they are far more likely to stay your customer."

Pershing Advisor Solutions, Pershing's RIA custodian, has been enhancing its consulting services to RIAs, many of them dual registrants, for the past several years in a bid to compete with larger rivals like Schwab Institutional and Fidelity Institutional Wealth Services .

iNautix is based in Chennai, India. -FWR

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