ETF Trends
ETF Trends

Watch out Wealthfront and Betterment, investment advisors now have the ability to “go robo” in their own individual way. Pershing has created a suite of technology enhancements to help wealth management firms digitally transform their businesses with customized robo advisory options.

I attended Pershing’s annual INSITE 2016 conference in Orlando this week where they announced additions that will allow advisors to develop and execute their own digital strategies.

“As emerging technologies and companies continue to change the way financial advice is delivered, advisors are embracing the change and are turning to us for help executing a digital strategy. Our clients are asking for us to help facilitate two different approaches to digitizing their business—some clients have told us they want to create their own unique technology experiences, while others tell us that they want solutions already integrated with Pershing’s platform,” Ram Nagappan, chief information officer at Pershing, said in a press release. “By taking an open-architecture approach, we’ve put our clients in the driver’s seat to choose and co-create a digital wealth management experience that best meets their advisors’ and their investor clients’ needs.”

Through the API store or select tools from third-party vendors and FinTech companies integrated with NetX360, Pershing clients will have the ability to build their own digital wealth management system.

In the store, financial advisors can utilize digital services to help their advisory firms manage the full investment process from account opening and funding to asset allocation and automated rebalancing.

“What Pershing is doing is jump-starting advisors’ efforts into being able to provide a low-cost option through technology,” Tim Welsh, President of Nexus Strategy, said. “For their accommodation accounts, children of their best clients and emerging professionals, advisors now will have the ability to target a broader audience to ultimately upwell into their full-service offering.”

Pershing will continue to integrate CRM, financial planning, wealth reporting and other solutions through NetX360 and NetXInvestor. For instance, the newly released fourth generation of MoneyGuidePro will be integrated with NetX360, providing research and behavioral components that help advisors develop a deep understanding of clients’ expectations, concerns and goals. Additionally, it includes elements that impact a clients’ goals but are commonly overlooked, including health care costs, social security, loss tolerance and longevity. Sigfig, Marstone, Jemstep and Vanare four advice solutions will be integrated with Pershing’s NetX360 as well.


The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.