The Bank of New York’s Pershing Advisor Solutions LLC Unit Enhances NetExchange Advisor Platform
JERSEY CITY, N.J., October 23, 2006 -- The Pershing Advisor Solutions unit of The Bank of New York Company, Inc. has enhanced NetExchange AdvisorTM , its online brokerage platform for independent registered investment advisors.
The enhanced version of NetExchange Advisor includes a management fee calculator tool that enables independent registered investment advisors to maintain customizable fee schedules that can be applied to individual accounts or a group of accounts. Advisors can create a range of fee schedule options for different asset classes, automatically calculate management fees and generate statements for delivery to their clients.
Independent registered investment advisors now also have the ability to initiate and monitor Fed Fund and check withdrawals for retail and retirement accounts online, and will benefit from improved navigation capabilities enabling them to efficiently retrieve clients' critical account information.
John Iachello, managing director at Pershing Advisor Solutions, said, "The enhancements are part of Pershing Advisor Solutions' ongoing commitment to deliver innovative products, services and technology solutions that meet the unique needs of independent registered investment advisors and the clients they serve. We will continue to develop our product offering to help our customers achieve their financial goals."
NetExchange Advisor provides independent registered investment advisors with a comprehensive set of tools to effectively manage their clients' investment portfolios and perform daily operational tasks that create efficiencies in cost and productivity. These include powerful trading tools that enable advisors to build model portfolios and execute orders for groups of accounts as well as manage and record orders executed at other firms.
Pershing Advisor Solutions LLC is an affiliate of Pershing LLC and a leading provider of financial services outsourcing solutions to independent, fee-based registered investment advisors and dually-registered advisors working in conjunction with many of Pershing LLC's introducing broker-dealer customers. Pershing LLC, a subsidiary of The Bank of New York Company, Inc., has a 65-year heritage of providing custodial services and outsourcing solutions to many of the world's leading financial services organizations. Through an innovative custody platform, Pershing Advisor Solutions delivers superior expertise and scalable and customizable solutions to help manage and grow fee-based businesses. Additional information is available at www.pershingadvisorsolutions.com.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, asset management, and private banking. The Company's extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
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