BNY Mellon's Pershing to Acquire Optimal Asset Management
The acquisition will form part of the new Pershing X offering - a recently launched business unit within Pershing that will design and build innovative solutions for the advisory industry.
The direct indexing market is expected to grow from
"The acquisition of Optimal Asset Management is the latest step in our Pershing X buildout, which aims to fuel growth by helping clients solve the challenge of managing multiple and disconnected technology tools and data sets," said
Benefits to clients include:
- Personalized investor portfolios aligned to values and tax optimization benefits for investors
- Improved acquisition and retention efforts for advisors through deeper, more personalized investment planning
"We're excited about joining Pershing X and the possibilities that we can jointly deliver to clients seeking customized direct indexing solutions. We are proud of the reputation we have built at Optimal Asset Management and the industry innovation we've delivered," said
PJT Partners is serving as financial advisor and Cooley LLP is serving as legal advisor to Optimal Asset Management. Sullivan & Cromwell LLP is serving as legal advisor to BNY Mellon's Pershing. Closing of the transaction is subject to customary conditions and is expected to occur by the end of 2021.
For additional information, please visit Pershing's website.
*Source:
ABOUT BNY MELLON'S PERSHING
BNY Mellon's Pershing is a leading provider of clearing and custody services. We are uniquely positioned to help complex financial services firms transform their businesses, drive growth, maximize efficiency, and manage risk and regulation. Wealth management and institutional firms outsource to us for trading and settlement services, investment solutions, bank and brokerage custody, middle and back office support, data insights, and business consulting. Pershing brings together high-touch service, an open digital platform and the BNY Mellon enterprise to deliver a differentiated experience for every client. Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company. With offices around the world, Pershing has over
ABOUT BNY MELLON
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of
ABOUT OPTIMAL ASSET MANAGEMENT
Optimal Asset Management is an SEC-registered investment advisor specializing in the delivery of institutional-grade investment solutions for all investors. Optimal Asset Management has developed a patented software solution that can be utilized by institutions, wealth managers, and advisors to deliver customized institutional-grade investment solutions for all investors. Optimal Asset Management has expertise in technology and finance focused on designing and delivering Direct Indexing solutions and enabling a more efficient asset management process. For more information, please visit Optimal Asset Management's website.
View original content:https://www.prnewswire.com/news-releases/bny-mellons-pershing-to-acquire-optimal-asset-management-301436290.html
SOURCE The Bank of New York Mellon Corporation (BK)