Since the company’s establishment in 1988, BNY Pershing has collaborated with Osaic, a major provider of wealth management solutions. Osaic, which supports over 1 million client accounts and over 11,000 financial professionals, has extended its clearing and custody agreement with Pershing, pledging to keep using Pershing’s product and technology solutions to support its asset and account growth strategy.
As part of the company’s consolidation plan, Pershing is assisting Osaic broker-dealers in consolidating their almost $200bn in assets under custody with Pershing.
Go deeper with GlobalData
Last year, the wealth management firm stated that it would rebrand as Osaic and merge its broker-dealer firms under the one name.
Jamie Price, president, and CEO, Osaic stated: “We are thrilled to extend our long-standing relationship with BNY Pershing to deliver a seamless and integrated experience for our financial professionals. Osaic is committed to collaborations with best-in-class companies that have depth of stability and continuously invest in their products. Backed by BNY, the world’s largest custody bank, BNY Pershing, which serves more than 60 global markets, is a leading platform provider we are proud to work with.”
Ben Harrison, head of wealth solutions, BNY Pershing added: “Osaic has trusted us to help them grow and scale since day one and we are honored to continue to be a part of their journey into the future. We are uniquely positioned to help Osaic build out its wealth manager business and provide innovative solutions to its financial professionals and investors.”
Moreover, Arete Wealth, a full-service Broker-Dealer (BD) and Registered Investment Advisory Firm (RIA), has partnered with BNY Pershing, to extend its clearing and multi-custodial wealth management platform through long-term clearing, custody, and technology agreements.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
