Financial advisors, broker-dealers and RIAs can now access
customized tax solutions and an expanded range of direct indexing
strategies that provide a variety of market exposures
NEW YORK, June 4, 2024 /PRNewswire/ -- The Bank of New
York Mellon Corporation ("BNY Mellon") (NYSE: BK), the
global financial services company, today announced the launch
of customized tax solutions and the expansion of its direct
indexing suite, BNY Mellon Precision Direct
IndexingSM. This evolution will allow advisors to
select a strategy that best aligns with their clients' investment
goals and objectives. Managed by Mellon, a global leader in index
management with over 40 years of institutional expertise, tax
transition management and tax overlay management will also be
offered alongside the expanded direct indexing suite.
With the addition of customized tax solutions, advisors will
have the ability to migrate a portfolio from one exposure to
another through tax transition management, which considers time
horizon, tax budget, desired tracking error and composite assets.
Additionally, ongoing tax overlay management can be applied around
a customized set of assets, including models and customized
portfolios.
In addition to BNY Mellon Precision Direct IndexingSM
S&P 500®, advisors will also be able to access another five
strategies within the direct indexing suite, which include:
- BNY Mellon Precision Direct IndexingSM US Core
500
- BNY Mellon Precision Direct IndexingSM US Total
Market
- BNY Mellon Precision Direct IndexingSM US Large Cap
Growth
- BNY Mellon Precision Direct IndexingSM US Large Cap
Value
- BNY Mellon Precision Direct IndexingSM International
Developed Core
"Our goal is to bring institutional-quality index management to
the retail investors in a tax-efficient way. With this expansion of
our services, we have strengthened our ability to support financial
advisors as they strive to better serve their clients and scale
their businesses," said Stephanie
Hill, Head of Index at Mellon. "With over 40 years of index
investment expertise and 30 years of tax management experience, we
are well-positioned within the industry to help investors generate
tax alpha and grow the value of their portfolios."
BNY Mellon Precision Direct Indexing is available through BNY
Mellon PershingX's[1] Wove platform and BNY Mellon Investment
Management. For more information, visit:
https://www.pershing.com/us/en/what-we-provide/advisory-solutions/direct-indexing.html.
BNY Mellon is a global financial services company
that helps make money work for the world – managing it, moving it
and keeping it safe. For 240 years we have partnered alongside our
clients, putting our expertise and platforms to work to help them
achieve their ambitions. Today we help over 90% of Fortune 100
companies and nearly all the top 100 banks globally access the
money they need. We support governments in funding local projects
and work with over 90% of the top 100 pension plans to safeguard
investments for millions of individuals, and so much more. As of
March 31, 2024, we oversee
$48.8 trillion in assets under
custody and/or administration and $2.0
trillion in assets under management.
BNY Mellon is the corporate brand of The Bank of New York Mellon
Corporation (NYSE: BK). We are headquartered in New York City, employ over 50,000 people
globally and have been named among Fortune's World's Most Admired
Companies and Fast Company's Best Workplaces for Innovators.
Additional information is available on www.bnymellon.com.
Follow us on LinkedIn or visit our Newsroom for the latest company
news.
BNY Mellon Investment Management is one of the world's
largest asset managers, managing almost $2
trillion across a range of traditional and alternative
assets through seven specialist investment firms – ARX, Dreyfus,
Insight, Mellon, Newton, Siguler Guff, and Walter Scott. For more information:
www.bnymellonim.com.
Mellon is a global leader in index management with
$486.1 billion in assets under
management. Our dedication to precision and partnership goes beyond
the benchmark. From 1983 to today, partnership with clients and
precise execution drives our business. Mellon provides solutions to
the world's most sophisticated investors designed to meet their
unique challenges, proving that index investing requires an active
mindset.
BNY Mellon Pershing (member FINRA, NYSE, SIPC) is a
leading provider of clearing and custody, trading and settlement,
advisory and investment solutions, data insights, business
consulting and other services to wealth management and
institutional firms looking to grow their businesses. For more
information, go to: pershing.com
This press release is qualified for issuance in the U.S. only
and is for informational purposes only. It does not constitute an
offer or solicitation of securities or investment services or an
endorsement thereof in any jurisdiction or in any circumstance in
which such offer or solicitation is unlawful or not authorized.
This press release is issued by BNY Mellon to members of the
financial press and media and the information contained herein
should not be construed as investment advice.
1 Technology services may be provided by
Pershing X, Inc., an affiliate of Pershing LLC, member FINRA, NYSE,
SIPC. Pershing and Pershing X do not provide investment advice or
offer investment advisory products or services.
Contact:
Sue Watt
Sue.Watt@bnymellon.com
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SOURCE BNY Mellon