BNY Mellon’s Pershing X, a technology company under BNY Mellon | Pershing, has unveiled Wove, a wealth management platform that combines the tech tools advisers utilise into a single, data-driven solution.

“When building Wove, we went beyond just having integrations and created interconnected experiences for advisers so they can go from planning and portfolio building to account management without having to re-enter data,” said Pershing X president Ainslie Simmonds.

“The goal is to help them be more productive and efficient with their time, so they have the ability to help serve even more clients.”

Wove will have the essential tools advisers require, including cross-custodian trading, rebalancing, financial plan development, flexible charging, and enhanced data reporting and analytics.

Additionally, advisers will have use to direct indexing investment strategies, such as the new BNY Mellon Precision Direct Indexing S&P 500, which is overseen by Mellon1, BNY Mellon Investment Management’s indexing expert.

The strategy aims to outperform the S&P 500 Index and allows advisers to provide customers with customised solutions.

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Pershing X also stated BNY Mellon Advisors, will leverage an internal team of senior investment professionals from across BNY Mellon to deliver investment solutions through the new platform.

“The Wove platform is unique because it has the power, scale and security of BNY Mellon behind it,” said Jim Crowley, CEO of BNY Mellon | Pershing.

“By leveraging the breadth of innovation from across the firm to create Wove, we are able to provide advisers with seamless technology and best-in-class investment tools to help revolutionise how they serve their clients.”

Leading clearance and custody services are offered by BNY Mellon’s Pershing.

It is in a unique position to support the transformation of complex financial services enterprises’ operations as well as growth, efficiency, risk management, and regulatory compliance.

For all clients, Pershing creates a unique experience by combining high-touch service, an open digital platform, and the BNY Mellon enterprise.