Pershing, a BNY Mellon company, has introduced a range of new tools and enhancements to its Advisor in Transition practice management program, highlighted by a real time matching tool, the Does It Pay to Switch? calculator and an interactive business model comparison tool available through its web portal.
The Advisor in Transition Program allows advisors to evaluate one of five choices: form a registered investment advisor (RIA) or join an RIA; form a broker-dealer or join a broker-dealer; or create a hybrid RIA/broker-dealer solution.
Once they’ve assessed their options based on the different economics, they can use the real-time firm matching tool to match them up with firms that appear to be an appropriate fit based on their needs, or, conversely, they can contact a Pershing relationship manager to provide them with the resources they require to establish their own independent business.
Enhancements to the Advisor in Transition program include a redesigned website with intuitive navigational aids: Real Time Firm Matching – this tool enables advisors to identify firms that are potential matches for their needs and has been streamlined and automated; and "Does It Pay to Switch?" Calculator, this calculator offers advisors the ability to drill deeply into the economics of moving their business or launching their own firm.
Enhancements also include: Interactive Business Model Comparison Chart, this resource is a side-by-side comparison of various affiliation models; Insight and Guidance on the Transition Process, the Advisor in Transition site features success stories, content for advisors making a move and access to experts who are available to answer questions on topics ranging from starting a business to compliance and marketing.