SOURCE: NextCapital

Lightspeed PR

February 23, 2016 10:59 ET

Update - NextCapital Selects Pershing as Preferred Retail Digital Advice Custodian

Shifting Regulatory Landscape Accelerates Demand for Scalable Advice

CHICAGO, IL--(Marketwired - February 23, 2016) -  NextCapital, the leading enterprise digital advice firm, today announced that it has selected Pershing Advisor Solutions as its custodian to enable scalable personal advice delivery for large financial institutions.

"Our collaboration with Pershing Advisor Solutions allows institutions to be up and running with digital advice faster, reduce custodial costs, and deliver a high-powered experience for investors," said John Patterson, Chief Executive Officer of NextCapital.

Mr. Patterson added, "Our institutional partners appreciate this given the emergence of digital advice and urgency caused by the pending fiduciary rule."

NextCapital provides institutions with an integrated platform for delivering automated personal financial advice to investors -- including holistic portfolio tracking, planning, savings advice and portfolio management. 

"The Pershing-NextCapital agreement is all about ushering financial institutions into the age of digital wealth management," said Mark Tibergien, Chief Executive Officer of Pershing Advisor Solutions. "This integration with NextCapital is consistent with our ongoing strategy to digitally enable advisors and institutions that custody with Pershing Advisor Solutions."

NextCapital enables institutional partners to rapidly and cost-effectively bring to market a full-stack digital advice solution that is specifically built to support the demanding configuration requirements of large institutions. Features include:

  • Custom user experience
  • Proprietary or third party investment methodology
  • Self-service and advisor-assisted service models
  • Multi-channel - supporting 401(k), IRA, and retail brokerage accounts
  • Integrations with 401(k) record keeping systems and now, Pershing Advisor Solutions.

NextCapital's new integration to Pershing's NetX360 platform provides institutions with the best of both worlds: NextCapital's enterprise digital advice platform, tightly integrated to Pershing Advisor Solutions world-class custodial platform.

About NextCapital Group: NextCapital is the leader in enterprise digital advice. NextCapital partners with world class institutions to deliver personalized planning and managed accounts to individual investors across multiple channels including 401(k), IRA, and taxable brokerage accounts. Our open-architecture digital advice solution provides integrated account aggregation, analytics, planning and portfolio management, and allows partners to customize advice methodology and fiduciary roles. NextCapital powers digital advice strategies for leading world-class brands such as Russell Investments and Transamerica.

About Pershing: Pershing and its affiliates provide global financial business solutions to advisors, asset managers, broker-dealers, family offices, registered investment advisor firms and wealth managers. A financial services firm located in 23 offices worldwide, Pershing provides business-to-business solutions to clients representing 6 million active investor accounts on the U.S. platform. Pershing affiliates are members of every major U.S. securities exchange, and its international affiliates are members of the Deutsche Börse, Australian Stock Exchange, Irish Stock Exchange, London Stock Exchange and Toronto Stock Exchange. Pershing LLC (member FINRA/NYSE/SIPC) is a BNY Mellon company. Additional information is available on (, or follow us on Twitter @Pershing (

About BNY Mellon: BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of Dec. 31, 2015, BNY Mellon had $28.9 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available on Follow us on Twitter @BNYMellon or visit our newsroom at for the latest company news.


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