BNY Mellon Introduces Fee Management Service for Asset Managers
NEW YORK, Dec. 16, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has introduced a fee management service for asset managers designed to help them determine which distributors are most efficiently distributing their funds. The offering, serviced through BNY Mellon's transfer agency group, has been designed to help asset managers understand the services they are receiving for the fees they pay to broker-dealers.
"This service provides our asset manager clients with the opportunity to better understand and reconcile fees paid while providing a broader view into their distributor relationships," said Michael DeNofrio, head of enterprise investor services for BNY Mellon's global financial institutions business. "This is a full-service solution that automates functions that many asset managers have been performing manually. Utilizing inefficient, manual systems could potentially result in efficiencies in tracking fund distribution."
DeNofrio added, "We are committed to continually enhancing our services to both asset managers and broker-dealers to help them address the unique challenges they face in today's marketplace."
BNY Mellon currently provides shareholder recordkeeping services to over 150 million shareholder accounts with assets of more than $3.9 trillion and is ranked as the largest provider of subaccounting services and the second largest provider of transfer agency services in the U.S., per the 2013 Mutual Fund Service Guide.
BNY Mellon has contracted with Delta Data Software Inc. to provide this service.
BNY Mellon Asset Servicing supports institutional investors in today's fast-evolving markets, safeguarding assets and enhancing the management and administration of client investments through services that process, monitor and measure data from around the world.
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 management and investment services in 35 countries and more than 100 markets. As of Sept. 30, 2013, BNY Mellon had $27.4 trillion in assets under custody and/or administration, and $1.5 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com, or follow us on Twitter @BNYMellon.
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SOURCE BNY Mellon