With the partnership between BNY Mellon and NextCapital in place, NextCapital will now be able to assist advisers in providing holistic portfolio tracking, planning, savings and portfolio management advice for out-of-plan moments, including rollover and retirement income options.
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Pershing expands its digital advice with NextCapital partnership
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This time, however, the robo has chosen Pershing as the custodian in what Rob Foregger, co-founder of NextCapital, said is the company's expansion to offer automated investment advice outside of defined contribution plans where the robo got its start. Pershing, based in Jersey City, is a clearing firm unit of Bank of New York Mellon Corp, and is the first custodian NextCapital has chosen to custody its assets. "Our broader vision is really actually being able to help our partners manage their client's entire lifecycle," Mr. Foregger said.
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