Pershing Expands Open-Architecture Trust Platform

Pershing LLC, a BNY Mellon company, has enhanced its open-architecture platform with the additions of Comerica Bank & Trust, NA and New York Private Trust Company.   

Pershing’s open-architecture platform, named Trust Network, enables its broker/dealer and independent registered investment adviser (RIA) customers to offer their clients a range of personal trust services and solutions.

“Investment professionals and advisers who serve sophisticated clients need the flexibility to offer the trust administration provider that can best support their business objectives and clients’ needs,” said Katie Swain, director of product management and development for Pershing. “The additions of Comerica and New York Private Trust Company expand our extensive suite of wealth management solutions and provide our customers with best of breed choices for serving their clients.”

Comerica Bank & Trust, NA, a subsidiary of Comerica Incorporated, has over $100 billion in trust and custody assets. Comerica provides a variety of personal trust services including estate settlement, trust administration, closely-held business management, and real estate management. New York Private Trust Company is a Delaware-chartered trust company providing fiduciary services to investment advisers and other institutions lacking trust powers throughout the U.S.

Pershing’s Trust Network includes full trustee services and administrative trustee services. The platform enables Pershing’s customers to perform investment management activities for their clients’ trust accounts with all related assets held in custody at Pershing. Trust Network is available to Pershing’s introducing broker/dealer customers through Pershing LLC and RIAs via Pershing’s affiliate, Pershing Advisor Solutions LLC.