BNY Mellon's Pershing Unit Continues to Expand FundVest® Platform

Jun 10, 2010, 09:00 ET from BNY Mellon from ,Pershing LLC

JERSEY CITY, N.J., June 10 /PRNewswire-FirstCall/ -- Pershing LLC, a BNY Mellon company, announced today that it has added Lord Abbett® to FundVest®, Pershing's no-transaction-fee mutual fund platform.

Mutual funds from Lord Abbett are now available to Pershing's introducing broker-dealer customers and the clients they serve, and to independent registered investment advisors and their clients through Pershing's affiliate, Pershing Advisor Solutions LLC. FundVest offers investors access to over 3,700 mutual funds, managed by 230 fund companies.  Through FundVest, investors can buy, sell or exchange an array of load and no-load mutual funds through their financial intermediary without incurring regular transaction fees.  

Pershing has continued to expand the number of mutual fund families available through FundVest.  More than 20 industry-leading mutual fund companies have been added to the platform over the past year, including T. Rowe Price, Franklin Templeton Investments and AllianceBernstein.  

Natalie Wolfsen, managing director of the product management and development group at Pershing, said, "We are very pleased to announce the addition of this leading asset management company to our platform.  The addition of Lord Abbett to FundVest demonstrates our continued commitment to expand our no-transaction fee mutual fund platform and provide our customers with access to a wide range of investment solutions from high caliber fund companies that will help them assist their clients in achieving their financial objectives."  

Pershing LLC (member FINRA/NYSE/SIPC) is a leading global provider of financial business solutions to more than 1,150 institutional and retail financial organizations and independent registered investment advisors who collectively represent approximately five million active investors. Located in 20 offices worldwide, Pershing and its affiliates are committed to delivering dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Pershing is a member of every major U.S. securities exchange and its international affiliates are members of the Deutsche Borse, the Irish Stock Exchange and the London Stock Exchange.  Pershing LLC is a BNY Mellon company.  Additional information is available at www.pershing.com.

Pershing Advisor Solutions LLC (member FINRA/SIPC) is an affiliate of Pershing LLC and a leading provider of financial business solutions to independent registered investment advisors and dually-registered advisors working in conjunction with many of Pershing LLC's introducing broker-dealer customers.  Additional information is available at www.pershingadvisorsolutions.com.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $22.4 trillion in assets under custody and administration, $1.1 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day. Additional information is available at www.bnymellon.com.  

SOURCE BNY Mellon; Pershing LLC



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