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Pershing Announces the Next Generation of its Block Trading and Rebalancing Tool for Advisor-Directed Programs

Streamlined features bring advisors a new level of scalability, operational efficiency and transparency 

Pershing LLC, a BNY Mellon company, today announced the next generation of its block trading and rebalancing tool—delivered through its technology platform NetX360®—which offers a series of new capabilities for advisors. The improvements will enable advisors to run drift reports at the household level, create models of models and utilize a new cash rebalancing feature.  It will also allow advisors to take advantage of an improved restriction management module that provides a holistic review of all restrictions for an advisor's business.  With these improved features, the tool continues to deliver a full array of functionality to help improve transparency, minimize errors and improve advisor efficiency.

"This enhanced, advisor-centric tool is one of many steps we have taken toward delivering the most flexible and efficient capabilities necessary for success in the advisor-directed space," said John Brett, managing director and head of managed investments at Pershing. "The new features of the block trading and rebalancing tool reduce the time spent on portfolio trading and rebalancing from hours to minutes, allowing advisors to focus on strategic analysis and dedicate time needed to drive client growth."

The tool, powered by FolioDynamix, allows advisors to maintain models, rebalance an unlimited number of accounts, add/trim security positions, liquidate accounts and/or process security replacements, in a transparent environment. This functionality applies to a variety of securities including equities, options, mutual funds and fixed income. Prior to execution, Pershing validates all allocations against its Rules Engine™ to ensure all orders are compliant with the rules set by the introducing broker-dealer/advisor, which eliminates post-trade correction. Also included in the Rules Engine validation are mutual fund order checks, such as fund cut-off times, fund minimums and short-term redemption fees.

Firms can be fully operational and using the updated tool in fewer than two weeks. Home offices and advisors have access to a dedicated Pershing support team to assist with onboarding.  

Additional features of the block trading and rebalancing tool include:

  • Automatic creation of block orders

  • Real-time allocations

  • Positions and balance updates

  • Trailing stop orders

Since its launch in 2010, Pershing's block trading and rebalancing tool has experienced significant growth, supporting over 5,000 advisors and over 1.1 million accounts, as of March 31, 2014. Its steady year-over-year growth can be attributed to the increasing demands of today's advisors who seek more fully integrated account management tools, as well as the market trending more toward the advisor-directed segment.

Pershing and its affiliates provide global financial business solutions to approximately 1,600 financial organizations, broker-dealers, registered investment advisory firms, advisors, fund managers and asset managers who represent over 5.6 million active accounts. Located in 23 offices worldwide, Pershing delivers dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Pershing affiliates are members of every major U.S. securities exchange, and its international affiliates are members of the Deutsche Borse, Australian Stock Exchange, Irish Stock Exchange, London Stock Exchange and Toronto Stock Exchange. Pershing LLC (member FINRA/NYSE/SIPC) is a BNY Mellon company.