BNY Mellon Pershing is launching the BNY Mellon Precision Direct Indexing service, a cutting-edge direct indexing product that aims to change the game.
With this product, Pershing, a subsidiary of BNY Mellon, integrates its existing clearing and custody services to offer financial advisors a powerful tool for tax-loss harvesting backed by Pershing X's innovative automated tax optimizer.
This new service promises customization to fit both financial and personal client goals.
With the support of Mellon's institutional expertise in portfolio management and indexing, financial advisors, broker-dealers, and registered investment advisors (RIAs) can focus on scaling their businesses.
This launch follows Pershing's acquisition of Optimal Asset Management, a direct indexing solutions provider, about a year and a half ago.
Background
Despite an industry landscape dominated by passive indexed solutions, U.S. wealth managers are increasingly intrigued by the potential of direct indexing for portfolio customization and tax sensitivity.
However, a significant knowledge gap persists. According to an informal poll by The Wealth Advisor, a prominent online portal for investment advisors, about 70% of its audience recognizes the term "direct indexing" but lacks a deep understanding of the technology and its benefits.
Scott Martin, Managing Editor at The Wealth Advisor, remarked, "Direct indexing is gaining attention, with industry giants like Morningstar and now Pershing leading the charge. However, there's still work to be done in helping our audience truly grasp what it means and its importance."
To bridge this knowledge gap, The Wealth Advisor is preparing to launch the Direct Indexing Buyer's Guide in mid-July. This unique publication will provide financial advisors across the nation with practical insights and guidance on direct indexing.
Associate Publisher of The Wealth Advisor, Lauren Rosenfarb, expressed her enthusiasm about the forthcoming guide, "Our Direct Indexing Buyer's Guide is a pivotal move for the industry. It empowers financial advisors with essential knowledge and gives direct indexing providers like Pershing a platform to connect with a broad network of advisors eager to learn."
To further foster this educational initiative, The Wealth Advisor offers a sponsorship program for direct indexing providers, presenting a unique opportunity to interact with a potential audience of 330,000 RIAs and Broker-Dealer (BD) advisors.
For more information about the upcoming Direct Indexing Buyer's Guide and sponsorship opportunities, visit https://showcases.thewealthadvisor.com.
About The Wealth Advisor
The Wealth Advisor is a leading platform for financial advice, offering insights and solutions for financial advisors. With an array of resources, it guides financial professionals in delivering excellent services to their clients. The upcoming Direct Indexing Buyer's Guide exemplifies its commitment to educating and equipping advisors for the evolving financial landscape.
