Jan 2, 2024

Financial planning

Who is BNY Mellon / Pershing?

Who is BNY Mellon Pershing
Who is BNY Mellon Pershing

Emily Luk

CPA, CFA - CEO and Cofounder of Plenty

BNY Mellon / Pershing is one of the biggest financial services institutions that provides investment and wealth management solutions for Plenty and many other financial advisors and firms. For example, BNY Mellon is one of the custodians BlackRock is partnered with for its $2.3 trillion U.S. iShares exchange-traded funds (Source: Reuters, 2021).

When you open up a Plenty account, it’s held at BNY Mellon / Pershing. Most places you invest partner with larger institutions to keep accounts secure. 

In simple terms, BNY Mellon / Pershing is our partner for everything “back office” when it comes to trades. They also provide asset protection, which is really important in our ever evolving world.

What back office tasks does BNY Mellon / Pershing do?

BNY Mellon / Pershing holds customers’ securities - such as stocks and bonds - in electronic or physical form and keeps them safe. In other words, they help ensure that the investments in your Plenty portfolio aren’t stolen or lost.

They also help take care of trading settlements and make sure compliance and tax regulations are followed. 

Other helpful things to know about BNY Mellon / Pershing

BNY Mellon / Pershing partners with Plenty and many other firms around the world such as banks, wealth management groups, broker-dealers, and advisors. 

These business to business (B2B) partnerships allow Plenty and other financial firms to focus on providing the best offerings for customers’ needs while BNY Mellon / Pershing takes care of transaction processing, data management, and any platform infrastructure needs.

Some more examples of the services BNY Mellon / Pershing offers partners include:

  • Managing risk and regulations

  • Custody and clearing to settle trades

  • Wealth management technology platforms

  • Advisory fee billing and invoicing tools

  • Client reporting capabilities

  • Trading interfaces

  • Back office quality control

Essentially, BNY Mellon / Pershing handles many important administrative tasks that financial professionals rely on to process trades, store assets, collect fees, and keep accurate client records.

Why is BNY Mellon / Pershing important?

BNY Mellon Pershing holds over $2 trillion in assets for advisors managing money on behalf of over 6 million underlying individual customer accounts and institutions around the globe.

By handling so many complex tasks behind the scenes, BNY Mellon Pershing ensures better transparency, accuracy, and quality control for registered investment advisors, and in turn for investors like yourself.

Their technology and operations enable better oversight and allows us at Plenty to deliver a streamlined, secure, and modern solution for managing money as a couple.

About Us

We are an investment platform designed specifically for couples to build wealth, together. We go beyond budgeting, making it simple to invest, save and grow towards your future goals by unlocking access to the financial strategies of the wealthy. Ready to get started? Sign up for your free trial today.


Emily Luk

CPA, CFA - CEO and Cofounder of Plenty

Emily is the ceo and cofounder of Plenty. Started by a husband and wife team, Plenty is a wealth platform built for modern couples to invest and plan towards their future, together. Previously, she was VP of Strategy and Operations at Even (acquired by Walmart/One) and a founding team member of Stripe's Growth and Finance & Strategy teams. She began her career as a VC, and was one of the youngest nationally to complete her CPA, CA and CFA designations.


Financial planning

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