BNY Mellon's Pershing Expands Clearing Deal With Lincoln Investment

As part of their pact, Lincoln will also use BNY Mellon Pershing’s NetX360+ custodial technology platform to help support its clients with market data, news, research, financial planning and reporting tools, the firms said.

Lincoln will also have access to BNY Mellon Pershing’s NetXInvestor portal that provides clients of broker-dealer and registered investment advisor firms a large selection of resources and easy access to account information, the companies said.

Pershing advisors manage millions of investor accounts totaling over $2 trillion in assets. Washington, Pennsylvania-based Lincoln has over 1,000 advisors managing more than $49 billion in assets for over 355,00 individual investors.

Noting the two firms have a more than 25-year relationship, Jim Crowley, global head of BNY Mellon’s Pershing, said in a statement: “The decision to completely transition their clearing services to us, as well as adopt Wove as their wealth management platform of choice for their advisors, speaks to the mutual trust we have cultivated — and the impact that Wove is already having in the marketplace after debuting in June.”

Bank of New York Mellon. Photo Credit: Bloomberg