09/17/03
JERSEY CITY, N.J., September 17, 2003 - Pershing LLC, a member of BNY Securities Group and a subsidiary of The Bank of New York, and Emerging Information Systems Inc. (EISI), developer of NaviPlan financial planning software, today announced an agreement to provide Pershing’s introducing broker-dealer customers with access to NaviPlan Standard, a leading-edge financial planning tool.
In delivering access to NaviPlan Standard, Pershing is providing its customers with a customized solution for developing comprehensive financial plans for their clients. Investment professionals can immediately start working with the software to develop financial plans that address their clients’ retirement, education, insurance, and estate planning needs. Investment professionals can run multiple scenarios using Monte Carlo simulations and quickly view possible future outcomes on a goal-by-goal basis. The software also includes a customized asset allocation module, which is specifically designed for Pershing’s customers.
NaviPlan Standard will be seamlessly integrated with NetExchange Pro, Pershing’s account management and trading platform, in the fourth quarter of 2003. The integration will enable investment professionals to automatically populate a client’s demographic, account, and portfolio data into NaviPlan, without re-keying information. In addition, NaviPlan’s unique "disconnect" feature will enable Pershing’s customers and their investment professionals to download a copy of a client’s online application and data to a laptop computer, and work with NaviPlan regardless of an Internet connection; upon returning to the office, the updated information is simply uploaded to the central database.
Dr. Mark Evans, president and chief executive officer of EISI, said, "We’re pleased to work with Pershing to add another level of outstanding support for their customers. NaviPlan brings speed and efficiency to the financial planning process, ultimately helping Pershing’s customers to improve their competitive positions through enhanced client service."
Brian T. Shea, Pershing’s chief operating officer, said, "Delivering a comprehensive range of online content from the industry’s leading providers is an important part of the service we provide to our customers. After surveying the market, we concluded that EISI offers the best-of-breed software, customization, support and ongoing product enhancements that will enable our customers to concentrate even more fully on meeting the needs of their clients and let them spend less time searching for the tools and resources they need to take their businesses to the next level."
Pershing’s NetExchange Pro platform is accessed by approximately 55,000 investment professionals affiliated with 670 of Pershing’s broker-dealer customers. NetExchange Pro provides investment professionals with access to client account information and reporting, quotes, investment research, news, third-party productivity tools from leading providers, and more. Investment professionals can access NetExchange Pro through the Internet and wireless-based technologies.
Founded in 1990, EISI is a leading financial planning software developer in North America. Its suite of NaviPlan products covers all wealth segments for various user skill sets. Continuous reinvestments in product development, along with EISI’s extensive experience in large-scale deployments, make NaviPlan the best solution for more than 40,000 licensed users. Additional information can be found on the NaviPlan website at www.naviplan.com.
Pershing is a leading global provider of clearing and financial services outsourcing solutions to more than 1,100 institutional and retail financial organizations and investment advisors who collectively represent 5 million individual investors. Located in 18 offices worldwide, Pershing provides customers with innovative technology solutions and a wide range of value-added products and services, including asset-gathering products and managed account services, extensive trading and financing capabilities, and web site development. Pershing LLC (member NYSE/NASD/SIPC) is a member of BNY Securities Group and a subsidiary of The Bank of New York. BNY Securities Group is the global agency brokerage, clearing and financial services outsourcing sector of The Bank of New York.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in securities servicing for issuers, investors and financial intermediaries. The Company plays an integral role in the infrastructure of the capital markets, servicing securities in more than 100 markets worldwide. The Company provides quality solutions through leading technology for global corporations, financial institutions, asset managers, governments, non-profit organizations, and individuals. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has a distinguished history of serving clients around the world through its five primary businesses: Securities Servicing and Global Payment Services, Private Client Services and Asset Management, Corporate Banking, Global Market Services, and Retail Banking. Additional information on the Company is available at www.bankofny.com.
| « Back to Press Releases |
