Wove's Next Level

It’s a new era for Wove, BNY Pershing’s groundbreaking wealth management platform now offering more solutions for advisors, investors, developers, and data professionals across the industry. Since its launch in 2023, BNY Pershing has been working to push Wove’s capabilities to the next level, collaborating with wealth management firms to focus on their specific challenges, needs, and goals.

At this year’s INSITE conference, BNY Pershing X President Ainslie Simmonds unveiled the results of these efforts: three new products and a suite of enhancements that further establish Wove as the most connected and productive wealth management platform.

“After working with a myriad of advisors throughout my career, I knew one thing to be true —if I wanted to build truly innovative tools that would help serve their needs, it would require using a different industry approach: collaborating directly with advisors to co-create them,” Simmonds said. “Our latest enhancements directly reflect feedback from our advisor base.”

ADVISOR FEEDBACK

"I need a way to collect and manage data from various sources as well as my own. Then, I need to quickly turn data into useful insights for my firm."

THE ENHANCEMENT: WOVE DATA

Wove Data is a cloud-based platform designed to manage large, multi-custody data sets and gain deeper insights.

Advisors can use Wove Data to access analytics-ready data that’s been aggregated from over 300 wealth management feeds. They can also blend this data with their own, providing all the necessary tools to monitor performance across the enterprise.

While the capabilities are sophisticated, this product is for firms spanning the entire data maturity spectrum. Wove Data can help any firm become a data-centric organization and be better prepared for the continued growth of AI and analytics.

ADVISOR FEEDBACK

"I want to offer my clients an easy-to-use portal where they can see all their accounts in one place, have information at their fingertips, and where we can easily collaborate."

THE ENHANCEMENT: WOVE INVESTOR

Wove Investor is a multi-custody platform offering investors and advisors a unified experience.

Wove Investor provides clients with access to their financial plan, aggregated account details, performance reporting, notifications and alerts — all from one portal. It features a simple and modern mobile-friendly experience that is easy to learn and navigate. And thanks to its connection to Wove Data, this platform ensures that advisors and clients are always viewing the same numbers, helping greatly improve their digital collaboration.

Advisors can also look forward to more functionality coming later this year, when BNY Pershing plans to add the ability to transfer money, make deposits, and collaborate via screenshare and co-browsing features.

ADVISOR FEEDBACK

"I want to build or customize a scalable platform for my firm."

THE ENHANCEMENT: WOVE CONNECT

Wove Connect is our new API marketplace, bringing together data feeds, web components, and third-party integrations available for NetX360+ and Wove.

For firms looking to build their own experiences, BNY Pershing offers Wove Connect. Users can now quickly sync with anything that Wove or NetX360+ links to, simplifying the process of obtaining core custody or advisory APIs to establish customized portals.

There’s also the option to leverage micro front ends for your own platform, if you don’t want to fully build components yourself. Users can test and configure their own experiences, then implement connections when they’re ready to use.

ADVISOR FEEDBACK

"Help me work more quickly and efficiently, especially when it comes to everyday tasks."

THE ENHANCEMENT: WOVE ADVISORY
A suite of new applications and enhanced capabilities for Wove Advisory.

• The Portfolio Solutions application has been upgraded to include a range of new time-saving enhancements, including improvements to help you better manage models, SMAs, and UMAs.
• The CRM application, built with Salesforce, allows client information to be seamlessly shared between Salesforce and Wove.
• A new Compliance application is coming soon and will monitor accounts while providing a highly efficient way to track advisor registration requirements and status.

ADVISOR FEEDBACK

"It’s essential to my productivity that Wove and NetX360+ work together."

THE ENHANCEMENT: WOVE and NetX360^®+

BNY Pershing has begun connecting Wove and NetX360^®+ so advisors can move seamlessly between the two platforms. 

Advisors will now be able to jump from an account on the NetX clearing and custody platform to that same account on Wove, with the data pre-loaded. This type of connectivity will only continue to grow stronger over the coming months.

THE WEALTH REVOLUTION

Most revolutions begin with a problem to solve and a firm who is willing to do the work to solve it. The wealth revolution will be one that empowers advisors to help countless others reach their goal of a more secure financial future.

“When you put it all together, Wove Data, Wove Connect, Wove Advisory, Wove Investor, and NetX360+ with the investment power of BNY, I hope you see that this might be a moment, a moment for wealth management that could be the beginning of a revolution. Revolutions, they sneak up on us. One minute, it seems like nothing changed, and then everything changes,” Simmonds said.

To see the revolution in action and learn about the entire suite of Wove products and applications, contact your relationship manager or visit our website.

Missed INSITE? You can catch a replay of Ainslie's mainstage presentation here in Keynote Session 1.