Pershing Integrates Redtail Technology to Simplify Client Onboarding for Advisors

Pershing is first custodian to synchronize CRM system with account opening process

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Apr 18, 2013, 10:00 ET

JERSEY CITY, N.J., April 18, 2013 /PRNewswire/ -- Pershing LLC, a BNY Mellon company, today announced a significant innovation in its industry-leading NetX360 platform through its relationship with Redtail Technology, a provider of web-based Client Relationship Management (CRM) solutions. Pershing's integration of Redtail's solution into NetX360 is designed to help advisors onboard clients more quickly, easily and efficiently.

The onboarding process is one of the first impressions clients have of the ease of an advisor's service experience and is critical to setting the tone for the ongoing relationship. The integration enables advisors to leverage prospect data they have in their Redtail CRM system by pre-populating account opening forms with a client's information through Pershing's new Client Onboarding solution. This significantly simplifies the account opening process by pre-populating the necessary forms. This not only simplifies the account opening process but also helps advisors increase their productivity by eliminating the re-keying of data and minimizing the risk of data entry errors.

"We are the first custodian to offer this CRM integration with Redtail, and note that Redtail is the first company to integrate its solution in this way via NetX360's open API." said Lucille Mayer, co-CIO of Pershing. "Effective client onboarding continues to be a major priority and concern of our clients. One of our key objectives is to simplify the process and help them increase their productivity so they can focus more time on helping their clients achieve their financial goals."

The benefits of the integration with Redtail are available to all Pershing's clients who have Redtail technology, including broker dealers and registered investment advisors. Pershing currently has 140 clients using Redtail Technology for other software requirements. Three of these are now enjoying the benefits of a simplified client onboarding process after having synchronized their CRM system with their NetX360 platform.

"We are excited to work with Pershing as the first custodian to reach this level of integration with our CRM system," said Brian McLaughlin, CEO/CTO at Redtail Technology. "Pershing's NetX360 platform will now be able to pull data from the Redtail CRM to augment a transaction and make the client onboarding process easier for all advisors."

"Client onboarding and account opening is a time consuming process and so we were eager to hear how the integration of Redtail and NetX360 could help simplify it and save us time," said Mario Monterio, senior vice president, chief operations officer/chief information officer at MoneyConcepts. "The result is that our advisors save a significant amount of time, time that they can now put to servicing existing clients and identifying new prospects – and all it took to activate the new software was a quick phone call to our client manager."

Separately from the launch of the Redtail integration, Pershing is also helping increase the productivity of advisors with eSignature technology. Following the integration of eSignatures into NetX360, Pershing's customers can now have their clients sign forms electronically, resulting in a paperless account opening process, which generates greater efficiency and saved time.

Pershing LLC (member FINRA/NYSE/SIPC) is a leading global provider of financial business solutions to more than 1,500 institutional and retail financial organizations and independent registered investment advisors who collectively represent approximately 5.5 million active investor accounts. Located in 23 offices worldwide, Pershing and its affiliates are committed to delivering dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Pershing is a member 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 is a BNY Mellon company. Additional information is available at www.pershing.com.

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 36 countries and more than 100 markets. As of March 31, 2013, BNY Mellon had $26.3 trillion in assets under custody and/or administration, and $1.4 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com, or follow us on Twitter @BNYMellon.

SOURCE BNY Mellon