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BNY Mellon's Pershing Launches No-Transaction-Fee ETF Platform; Introduces FundVest® ETFSAN DIEGO, June 15, 2017 /PRNewswire/ -- BNY Mellon's Pershing launched today its new no-transaction-fee (NTF) exchange-traded fund (ETF) platform: FundVest® ETF. The NTF platform requires no purchase minimums or holding period, and will be available to all Pershing clients. The solution complements Pershing's existing mutual fund NTF platform, FundVest. It provides Pershing's clients with flexibility to deliver a broad range of ETFs to investors while reducing explicit costs. "As the demand for ETFs continues to increase, we are pleased to bring our clients a diverse selection of no-fee ETFs offered on an independent, open architecture platform," said Justin Fay, Pershing's director of Financial Solutions, responsible for Alternative Investments and ETFs. "This new offering reaffirms our commitment to expanding the suite of low-cost investment solutions available to our clients as they continue to implement ETFs more frequently within portfolios in an effort to more efficiently meet investor financial goals." Inflows into ETFs on the Pershing platform increased 20 percent in 2016, compared to the previous year. Further, in a recent Pershing survey conducted by Beacon Strategies among 1,500 financial advisors, RIAs, and global wealth managers, more than two-thirds of respondents who used ETFs said they intend to increase their usage over the next 12 months. FundVest ETF spans a diverse range of asset classes, featuring funds from market-leading providers including Direxion, Guggenheim Investments, PowerShares by Invesco, OppenheimerFunds, PIMCO, Reality Shares, and SPDR® ETFs from State Street Global Advisors. The platform will continue to grow and add new providers over the coming months. Pershing clients will have full access to the variety of funds available on FundVest ETF via the ETF Center on NetX360®. he ETF Center also features premium thought leadership including articles and research through both Morningstar® and Lipper, and provides tools that allow advisors to search, screen and compare ETFs side by side. About BNY Mellon's Pershing About BNY Mellon SPDR® is a registered trademark of Standard & Poor's Financial Services LLC (S&P) and has been licensed for use by State Street Corporation. State Street Corporation's financial products are not sponsored, endorsed, sold or promoted by S&P, S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto, including for any errors, omissions, or interruptions of any index. Sanuber Grohe To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/bny-mellons-pershing-launches-no-transaction-fee-etf-platform-introduces-fundvest-etf-300474887.html SOURCE BNY Mellon |