Pershing LLC, a BNY Mellon company, announced Jan. 20 the rollout of its Retirement Plan Network, a new solution to help broker-dealers, investment advisors and RIAs grow their retirement plan business.
The Retirement Plan Network is an open-architecture platform that allows advisors to connect to independent record keepers, hold assets in custody, and to leverage an integrated suite of investment products, retirement plan tools and practice management solutions. The network will be rolled out through the first quarter of 2015.
In addition to helping clients establish or expand their retirement plan business, the network is designed to help advisors address the need for greater transparency and oversight of their retirement business, Pershing said in announcing the platform, providing a conflict-free custody solution integrated into a single platform on which advisors can serve the needs of retirement plan sponsors and individual investors.
Advisors have access to a host of resources that will enhance their service for retirement plans:
- Advisors may access and leverage deep integration of independent record keepers through NetX360®, Pershing's technology platform. Currently, record keepers include Allen, Gibbs & Houlik, Aspire, Benefit Consultants Group, DailyAccess, July Business Services and Sentinel. The network will expand extensively over time to include additional regional and national record keepers.
- An open-architecture investment platform that will have a highly integrated management capability for advisors to manage investment models or access third-party asset managers. The network's menu of investment choices features mutual funds, stable value funds and exchange-traded funds through managed models.
- Through NetX360, advisors will have a single point of access for both individual and retirement plan businesses that will offer a range of support, including practice management and an integrated set of retirement plan tools and solutions that will enable advisors to create proposals, view plan investments, conduct investment reviews, facilitate IRA rollovers, select record keepers and access plan sponsor and participant education materials.
More information about the Retirement Plan Network is available here. For more on BNY Mellon’s value-adds for advisors, visit their NAPA Partner Corner page.
