Arete Wealth, a full-service Broker-Dealer (BD) and Registered Investment Advisory Firm (RIA), has partnered with BNY Pershing, a supplier of international financial business solutions, to extend its clearing and multi-custodial wealth management platform through long-term clearing, custody, and technology agreements.
The agreement includes access to BNY Pershing X’s Wove wealth management platform for advisers from Arete Wealth. This platform helps broker-dealers, wealth management companies, and qualified investment advisers connect an investor’s entire financial picture in one location with tools like Wove Investor, Wove Data, and Portfolio Solutions from Wove Advisory.
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Arete Wealth is a sophisticated financial services firm offering a range of services including investment banking, broker-dealer services, estate planning, investment advice, asset management, insurance, annuities, and consultancy.
The firm provides help to adviser teams, wealth managers, and RIAs who want to enhance their business investing experience. Its tailored alternative investment platform offers more than 60 products from numerous sponsors, including artwork, hedge funds, private equity, venture capital, real estate, and more, in addition to conventional wealth management services.
Pershing’s array of offerings will facilitate the company’s expansion in each of these domains.
Ben Harrison, head of wealth solutions, BNY Pershing stated: “We’re proud to be deepening our relationship with Arete Wealth, a firm whose focus on providing its advisers with the right resources to scale and serve clients matches our mission to help advisers help more people. Their decision to use our Wove wealth management platform, along with the new suite of Wove products unveiled just last month, is a testament to the strong collaboration we’ve built over the years.”
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By GlobalDataJoshua Rogers, CEO, and founder, Arete Wealth added: “We are thrilled to collaborate with one of the top providers of clearing and custody services in the industry. As we expand and enhance our wealth management platform, Pershing’s commitment to high-growth, sophisticated wealth managers, along with its focus on innovative technology offerings, makes them a perfect provider for our elite financial advisers.”
