The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:A 401k Advice Shop Takes a Key Retail Step With Pershing Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, February 23, 2016

A 401k Advice Shop Takes a Key Retail Step With Pershing

Reported by Neil Anderson, Managing Editor

The RIA support folks at Pershing are teaming up with an online 401(k) advice specialist that's going retail ... through RIAs.

John Patterson
Chief Executive Officer
This morning John Patterson, CEO of Chicago-based NextCapital, and Mark Tibergien, CEO of advisor solutions at Jersey City-based BNY Mellon subsidiary Pershing, unveil their alliance. Tibergien's unit at Pershing will custody NextCapital's digital, open-architecture, retail advice offering through institutions. Watch for NextCapital to team up with other custodians, too, eventually, though not quite in the same way.

"We're going to be multi-custodian on the retail side because we have to be," NextCapital co-founder Rob Foregger tells MFWire. "Pershing is going to be preferred retail custodian."

Mark Tibergien
Pershing Advisor Solutions LLC, BNY Mellon
Chief Executive Officer, Managing Director
That preferred custodian relationship, Foregger says, translates into "overall cost deployment advantages" and "competitive custodial costs" for NextCapital's institutional allies and for Pershing-affiliated RIAs.

"We're working closely together on the integrations," Foregger says, praising Tibergien's team for being "really focused on helping bring firms into the digital wealth management age."

NextCapital already offers what Foregger calls a "QDIA-ready, auto-enroll-ready digital advice solution" through 401(k) plans. Yet the idea behind the Pershing alliance is for NextCapital's institutional allies (including AB, John Hancock parent Manulife, Russell, and Transamerica, all of whom have invested in NextCapital) to offer more holistic retirement savings advice by looking across all of an individual saver's accounts: 401(k), IRA, taxable, and more.

"The idea is to have one user interface, one client profile, one advice engine that can provide advice for the end consumer," Foregger says. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2022: Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

  1. Irish Funds Annual Global Funds Conference 2022, May 30-31
  2. WealthManagement Edge, May 31 - June 3
  3. MFDF 2022 Fund Governance and Regulatory Insights Conference, Jun 8-9
  4. 28th annual Expect Miracles East Coast Classic, June 9
  5. 2022 Sohn Investment Conference, June 9
  6. IDC webinar - Cybersecurity for Fund Boards: The Current Landscape, June 9
  7. MMI webinar - Driving Business Value with Artificial Intelligence & Data, June 15
  8. MFDF webinar - Key Takeaways From Morningstar's 2021 Annual Fund Fee Study, June 16
  9. MFDF Director Discussion Series - Open Forum (Chicago), June 21
  10. 2022 MMI Emerging Asset Managers Forum, June 23
  11. MFDF In Focus: Capitol Hill, A Conversation with Congressman Bryan Steil, June 28
  12. Financial Planning INVEST, Jun 28-29
  13. MFDF webinar - Differentiating Mutual-Fund-to-ETF Conversions, July 19
  14. MFDF Director Discussion Series - Open Forum (New York), July 20
  15. 2022 MMI Distribution Leadership Forum, Jul 20-21
  16. MFDF webinar - Fund Boards' Oversight of Investment Performance, July 28
  17. MFDF webinar - Performance, Perception and Manager Selection, September 14
  18. 2022 ICI Tax and Accounting Conference, Sep 18-21
  19. 5th annual Expect Miracles Atlantic Coast Classic, October 3
  20. Nicsa Fearless Leadership Symposium, Oct 6-7
  21. 2022 MMI Annual Conference, Oct 19-21
  22. 2022 IDC Fund Directors Conference, Oct 24-26
  23. 18th annual Expect Miracles Wine & Spirits Event, October 27
  24. Nicsa 2022 General Membership Meeting, October 31 - November 2
  25. Tiburon CEO Summit XLIII, Nov 7-9
  26. 2022 ICI Tech Summit, Nov 8-9

©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use