Intelligent Advisor
Pershing’s New Plan to Get FAs to Embrace Technology

Pershing’s New Plan to Get FAs to Embrace Technology

Pershing LLC announced a new strategy to help advisors embrace technology at its annual INSITE 2015 conference in Orlando, Fla.

Calling it a “digital enablement strategy,” Pershing wants to go beyond digital advice by equipping advisors with resources to improve collaboration and engagement with clients.

The plan has six core elements all focused on automation, integration and innovation. The first is improved access to digital advice tools through the NetX360 and NetXInvestor platforms, such as account opening and funding, automated risk profiling and allocation, account aggregation and rebalancing.

The second part of the plan involves Pershing’s recent integration with Vestorly’s content management platform to let advisors augment client communication with automated marketing content.

Pershing wants to give advisors more data-driven insights with automated analysis tools, visualizations, and predictive analytics. Later this year, Pershing will launch Asset Flow, a new dashboard that shows the type, timing and variation of asset flows across an advisor’s business.

The custody/clearing firm also said it would continue to improve advisor-client engagement tools like document sharing, video collaboration and mobile apps.

The fifth part of the plan is a new API store to give third-party companies direct access to Pershing and BNY Mellon services. Pershing hopes this will expand its reach and give advisors more choice with the technology they use.

The final element of the plan is investment in technology incubators in Silicon Valley, New Jersey and India.

“Our digital enablement strategy is a client-focused approach that has been designed to help advisors unleash the full potential of various digital capabilities,” said Ram Nagappan, Pershing’s managing director and chief information officer. “It is important to extend our strategy beyond just digital advice to enable advisors to deliver a comprehensive digital experience that allows for faster, more meaningful connections with investors.”

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