Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013
Announcement

17119

Pershing licenses Redi2 Technologies’ Revenue Manager

RELATED TOPICS​

Redi2 Technologies, the premier provider of hosted fee billing and revenue management solutions to the global financial services industry, announced today that 

Pershing LLC, a Bank of New York Mellon company, has licensed the Redi2 Revenue Manager[WMSP] enterprise billing system (EBS).

Revenue Manager is designed to handle the processing of over one million accounts for broker-dealer clients whose advisers offer asset-based advisory billing solutions to their end investors via Redi2's hosted revenue management platform in conjunction with Pershing's mainframe processing capabilities.

Pershing consolidated four legacy, standalone asset-based billing systems into Redi2's hosted platform, which is integrated into Pershing's NetX360® platform. This integration enables Pershing's advisor clients to offer a diversified product portfolio to their investor clients.  Pershing reaps the benefits of increased billing functionality and operational efficiencies through enhanced calculation detail of a variety of pay-outs and fee types, including advisor compensation, management fees, overlay manager fees, sponsor fees, broker-dealer fees and platform fees.  

"We are committed to continuously enhancing the advisor and investor experience. To carry out this commitment, it's crucial that we anticipate trends and the needs of our clients while implementing technology that enables us to offer an increasingly large and diverse product portfolio," says Michael Zupetz, Director of Client & Product Billing at Pershing. "We selected Redi2 to work with us to establish an industry-leading, asset-based advisory billing platform that not only enables us to consolidate our fee billing systems but also effectively track workflow and process management fees in a timely, accurately and controlled manner."

Pershing leveraged Redi2's expertise in asset-based fee calculation and processing to implement technology that provides flexible fee calculation to simplify accounting.

Some of the benefits include: unlimited fee schedules, multiple billing methods, payee allocation methods, payment instructions, multi-custodial support, billing customisation and billing history.
Redi2's work with Pershing was recently recognised by the Money Management Institute, whose members selected Redi2 as a finalist in the category "Advisory Solutions Technology or Innovation or Operations Improvement of the Year." The category recognises companies (Pershing Managed Investments) that exhibit the greatest gain in efficiency or growth due to a technology or operations improvement (Redi2 Revenue Manager[WMSP].

"Pershing is determined to be at the cutting edge of enabling wealth management technology, and is now offering a next generation platform for broker-dealers and advisory firms requiring world class clearing and execution," says Fermin Garcia, President & COO of Redi2.

Latest News

The trading and investment platform eToro has extended its proxy voting feature to all stocks..
C8 Technologies, the London-based fintech founded by former BlueCrest Capital Management partners Mattias Eriksson and..
DWS has announced the latest development in its strategic growth push in Alternative Credit with..

Related Articles

The trend of private equity firms acquiring businesses in the professional services sector continues with CVC Capital Partners eyeing a possible buyout of EY’s Italian consulting branch...
The trend of private equity firms acquiring businesses in the professional services sector continues with CVC Capital Partners eyeing a..
Pension funds
UK defined benefit (DB) pension plan sponsors could have access to GBP 1.2 trillion in surplus assets over the next decade, industry research reveals...
UK defined benefit (DB) pension plan sponsors could have access to GBP 1.2 trillion in surplus assets over the next..
Tim Crawmer, Payden & Rygel
Tim Crawmer and Frasat Shah of Payden & Rygel write that higher yields are attracting more demand from investors. Also, given that equities had a strong year last year, big funds have taken some chips off the table in equities and put them into fixed income...
Tim Crawmer and Frasat Shah of Payden & Rygel write that higher yields are attracting more demand from investors. Also,..
Lady justice
Top marks for the Pensions Regulator (TPR) whose efforts to improve resilience in the UK pension funds’ liability-driven investment (LDI) strategies received glowing commendations from the Bank of England in its March report...
Top marks for the Pensions Regulator (TPR) whose efforts to improve resilience in the UK pension funds’ liability-driven investment (LDI)..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by