The Bank of New York Company Inc.’s Pershing Advisor Solutions LLC Unit Unveils Comprehensive Practice Management Solutions for Independent Registered Investment Advisors
JERSEY CITY, N.J., April 17, 2007 -- The Pershing Advisor Solutions LLC unit of The Bank of New York Company, Inc. has launched a comprehensive practice management program for independent registered investment advisors (RIAs) entitled Ideas Without Limits.
Ideas Without Limits is devoted to providing RIAs with a broad array of strategic business and practice management solutions to help them maximize the growth and profitability of their practices. It offers a spectrum of solutions ranging from sophisticated marketing and business consulting to exclusive regional events and educational tools. Through this program, Pershing Advisor Solutions disseminates valuable information and meets with independent registered investment advisory firms one-on-one to interpret business challenges and their implications, and then develops and implements customized solutions leveraging experts from both Pershing Advisor Solutions and industry-leading consulting firms.
Ideas Without Limits provides independent registered investment advisors access to deep expertise on key areas affecting their practices such as planning for a merger, acquisition or transition, maximizing operational efficiency and mitigating risk while staying abreast of the rapidly changing regulatory environment. Key components of the program include:
- Personalized, one-on-one business reviews with specially trained Pershing professionals, as well as industry-leading, third-party experts, to address a wide range of core business challenges
- Exclusive independent studies that focus on emerging industry trends
- Interactive workshops which provide RIAs with direct access to sought-after industry consultants in small, intimate settings
- Client acquisition and retention strategies ranging from customized marketing solutions and capability brochures to turnkey client newsletters, best-practice guidebooks, performance benchmarking solutions, direct mail and referral programs
- ValueAlliance® designed to provide creative solutions leveraging preferred rates and volume discounts on a wide array of third-party products and services, from office services to financial planning software and E&O insurance
Pershing Advisor Solutions launched Ideas Without Limits with a series of regional workshops that focused on a study recently commissioned by Pershing Advisor Solutions and independently executed by Moss Adams, LLP entitled Real Deals: Definitive Information on Mergers & Acquisitions for Advisors. These exclusive workshops were hosted in eight cities and provided a select number of RIAs in each city with direct access to Mark Tibergien, principal at Moss Adams, and Philip Palaveev, senior manager at Moss Adams. Participants were presented with valuable insights into advisory firm M&A and gained an intimate understanding of the real value of their RIA practices through pre-event and post-event analysis. The workshops also addressed best practices for structuring new partner introductions, mergers, acquisitions and succession planning.
John Guarino, president of Covenant Asset Management, LLC, said, "As an RIA firm looking to grow and get to the next level, a significant amount of time is spent on managing our clients’ money, rather than thinking strategically about how to position ourselves in the marketplace. Through personalized, one-on-one guidance, Pershing Advisor Solutions’ marketing consultants have played an integral role in helping us to conceptualize and carefully develop a targeted marketing plan, and have worked with us to ensure that necessary milestones are met so that we could implement it accordingly. We believe this level of interaction and involvement has made a tremendous difference and will assist us in driving our top line going forward."
John Iachello, chief operating officer of Pershing Advisor Solutions, said, "Ideas Without Limits represents a distinctive approach to practice management support and goes beyond high-level guidance to offer independent registered investment advisors customized solutions to address their strategic planning and marketing needs. Our commitment is to ensure that our customers have access to the resources they need to effectively implement their solutions. We believe Ideas Without Limits positions us as a preeminent provider of strategic business and practice management solutions in the RIA market."
For a copy of the Real Deals study or to learn more about Ideas Without Limits, call Pershing Advisor Solutions at (800) 445-4467 or visit www.pershingadvisorsolutions.com.
Pershing Advisor Solutions LLC is an affiliate of Pershing LLC and a leading provider of financial services outsourcing solutions to independent, fee-based registered investment advisors and dually-registered advisors working in conjunction with many of Pershing LLC’s introducing broker-dealer customers. Pershing LLC, a subsidiary of The Bank of New York Company, Inc., has a 67-year heritage of providing custodial services and outsourcing solutions to many of the world’s leading financial services organizations. Through an innovative custody platform, Pershing Advisor Solutions delivers superior expertise and scalable and customizable solutions to help manage and grow fee-based businesses. Additional information is available at www.pershingadvisorsolutions.com.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, asset management, and private banking. The Company’s extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
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