What is a Pershing account?

Pershing is a one-stop source for a range of individual retirement solutions—along with a wealth of tools and resources to help advisors grow their retirement business. Choose from Traditional, Roth, and Rollover individual retirement accounts (IRAs) that feature convenient account services and distribution options.

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Similarly, what does Pershing LLC as custodian mean?

Pershing” refers to Pershing LLC, which is a member firm of the New York Stock Exchange, Inc. (“NYSE”) and FINRA, and provides clearing services for Your Account. Pershing acts as the custodian (holder of assets) for Your Account(s). … “Property” means any securities or other assets accepted into Your Account.

Secondly, is Pershing owned by BNY Mellon? Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company.

Also to know is, who does Pershing clear for?

Pershing LLC is a subsidiary of BNY Mellon. It (and its affiliates) serves as the clearing firm for hundreds of broker-dealers around the world.

What companies use Pershing?

Pershing affiliates include Albridge Solutions, Inc. and Lockwood Advisors, Inc., an investment adviser registered in the United States under the Investment Advisers Act of 1940.

Is Pershing a good broker?

BNY Mellon’s Pershing Climbs to the Top Spot for Brokerage Statements. JERSEY CITY, N.J. — BNY Mellon’s Pershing (“Pershing”) today announced that it has topped the list for Brokerage Investor Statements in DALBAR’s 2018 Trends & Best Practices in Investor Statementsi.

Is Pershing LLC a custodian?

Pershing LLC acts on behalf of many financial organizations as a custodian for retirement accounts.

How many firms does Pershing clear for?

Assets under custody and/or administration

Pershing provides clearing and custody in more than 65 markets and execution in over 60 markets globally. Pershing also facilitates the trading and conversion of more than 50 currencies. We serve approximately 1,400 clients in 40 countries.

What are Pershing fees?

Pershing Fee Schedule – Client Fees

Customer Fees Price Unit
Equities and Exchange Traded Funds $15 per transaction
Options $15 per transaction + $1 per contract
Options Excercise and Assignment $35 per transaction
Fixed Income Securities $25 per transaction

Is Pershing a bank?

Pershing LLC is a clearing house. Formed in 1939, Pershing became a subsidiary of The Bank of New York Mellon in 2003. Pershing has nearly $1.9 trillion in assets under administration.

Does Pershing still exist?

In 2003, Pershing was acquired by The Bank of New York, the longest-lasting financial institution in the United States. … Today, BNY Mellon is the Investments Company for the World, providing Pershing and all its clients the backing and resources of a global leader.

How many employees does Pershing have?

3,000 employees

Does Wells Fargo clear through Pershing?

Our Custodian: Pershing and First Clearing

First Clearing LLC is part of Wells Fargo Clearing Services LLC and part of one of the nations largest brokerage firms.

Who is the largest clearing firm?

In many cases, the largest clearing firms handle a large number of transactions, from various broker-dealers each day.

  • Apex Clearing.
  • Broadcort & Merrill Lynch Professional Clearing Corp.
  • FOLIOfn, Inc.
  • Goldman Sachs Execution and Clearing LP.
  • J.P. Morgan Clearing Corp.
  • National Financial Services LLC.
  • Pershing LLC.

What is Pershing clearing?

Pershing LLC is a business-to-business provider. We provide global financial solutions to advisors, asset managers, broker-dealers, family offices, fund managers, registered investment advisor firms and wealth managers. Pershing acts as clearing broker under a written agreement with your financial organization.

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