Global investments company BNY Mellon’s Pershing has expanded financial advisors’ access to its alternative investments capabilities.
Pershing integrated with CAIS and iCapital Network through its Application Program Interface (API) Store.
CAIS and iCapital Network sponsor alternative investment platforms. They offer access to private equity, private credit, hedge funds and additional alternative investments.
Furthermore, CAIS and iCapital Network provide advisors with an end-to-end technology platform and automated operational workflows.
Pershing’s clients were able to access its Alternative Investment Network for more than 10 years. This integration will expand the company’s capabilities by automating document workflows between providers and its platform.
BNY Mellon’s Pershing managing director of Global Strategy & Product Management Rob Cirrotti said “One of the major barriers to investing in alternatives is the manual steps involved in the process.
“As advisors increasingly turn to alternative investments for diversification and uncorrelated returns, we are committed to streamlining the process by making it more digital and more seamless for them so they can drive greater efficiencies.”
Advisors can pre-populate required documents on the alternative investment platform where a product is offered.
These documents are then automatically uploaded to the Pershing platform. This avoids the need for manual uploads and decreases the risk for human errors.
Also, advisors can use e-Signature on Pershing’s required form.
These integrations are in line with the strategy of Pershing to expand its capabilities in the alternative investments space.
Cirrotti added: “We will continue to invest in solutions to meet our clients’ evolving needs and leverage the broad array of alternatives capabilities across our enterprise to provide clients with unique insights.”
Earlier this month, BNY Mellon Wealth Management appointed Julie Alcala as senior wealth strategist.