Arete Wealth announces expansion of clearing and custody services with BNY Pershing
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CHICAGO, July 12, 2024 ~ Arete Wealth, a full-service Broker-Dealer (BD) and Registered Investment Advisory Firm (RIA), has recently announced a significant expansion of its clearing and multi-custodial wealth management platform. This expansion is made possible through long-term clearing, custody, and technology agreements with BNY Pershing, a leading provider of global financial business solutions.

According to Ben Harrison, Head of Wealth Solutions at BNY Pershing, the firm is proud to deepen its relationship with Arete Wealth. He notes that their focus on providing advisors with the necessary resources to scale and serve clients aligns with BNY Pershing's mission to help advisors help more people. The decision by Arete Wealth to utilize BNY Pershing's Wove wealth management platform, along with the newly unveiled suite of Wove products, is a testament to the strong collaboration between the two firms over the years.

Through this agreement, advisors from Arete Wealth will now have access to BNY Pershing X's Wove wealth management platform. This platform is specifically designed to assist registered investment advisors, broker-dealers, and wealth management firms in connecting an investor's full financial picture in one place. The platform offers various offerings such as Wove Investor, Wove Data, and Wove Advisory's Portfolio Solutions.

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Arete Wealth is known for supporting RIAs, wealth managers, and advisor teams seeking an elevated business experience in investing. In addition to traditional wealth management products, the firm also offers a bespoke alternative investment platform that currently features over 60 offerings from dozens of sponsors including artwork, hedge funds, private equity, venture capital, real estate, and more. With this new partnership with Pershing's suite of solutions, Arete Wealth aims to further support its growth across all these areas.

Joshua Rogers, CEO and Founder of Arete Wealth expressed his excitement about collaborating with one of the top providers of clearing and custody services in the industry. He believes that Pershing's commitment to high-growth, sophisticated wealth managers, along with its focus on innovative technology offerings, makes them the perfect provider for their elite financial advisors. As Arete Wealth continues to expand and enhance its wealth management platform, this partnership with BNY Pershing is expected to bring significant benefits to both firms and their clients.

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