BNY Mellon announced new enhancements to Pershing X’s Wove platform, designed to help registered investment advisors, broker-dealers, and wealth management firms connect an investor’s entire financial landscape in one place, the company said in a statement.
The new offerings include Wove Investor, a comprehensive client portal that allows investors to view account information from multiple custodians and use self-service features to quickly complete simple tasks on their own.
Additionally, Wove Data has been launched, a cloud-based data platform designed for high-level financial professionals in wealth management firms to manage large sets of multi-custodial data and gain deeper insights into the performance of their advisor teams, operations, and investment products within their firms.
Another enhancement is Portfolio Solutions, a set of tools designed to save time and help advisors more efficiently and quickly find investment products that align with a client’s risk objectives and add them to a portfolio.
“When we launched Wove exactly a year ago, we said we wouldn’t stop innovating until it became the most connected advisory platform on the market, and today we are delivering on that promise,” said Ainslie Simmonds, President of Pershing X and Global Head of Strategy.
According to Simmonds, “Advisors asked us to create a simple and interconnected portal for their clients, so we created Wove Investor, while Wove Data allows larger firms to turn vast amounts of data into actionable business intelligence. These new products are helping us fulfill our mission to change the future of wealth management.”
The platform also includes additional features, such as the first wealth management platform tool designed for investors and a cloud-based tool created for high-level financial executives to better manage business data.
