Arete Wealth Announces Expansion of Clearing and Custody Services with BNY Pershing

Arete Wealth, a leading independent broker-dealer and Registered Investment Advisory Firm (RIA) with over $6 billion in assets under management, has announced a significant expansion and enhancement of its wealth management platform. The firm has entered into long-term agreements with BNY Pershing, a global provider of financial business solutions, to bolster its clearing and multi-custodial capabilities.

Under the new agreements, advisors at Arete Wealth will gain access to BNY Pershing X’s Wove wealth management platform. This platform is designed to streamline the financial management process for registered investment advisors, broker-dealers, and wealth management firms by consolidating an investor’s complete financial picture in one place. The platform offers various tools such as Wove Investor, Wove Data, and Wove Advisory’s Portfolio Solutions.

Ben Harrison, Head of Wealth Solutions at BNY Pershing, expressed his excitement about deepening the relationship with Arete Wealth and highlighted the alignment of values between the two firms. Joshua Rogers, CEO and Founder of Arete Wealth, emphasized the importance of partnering with a top-tier provider like Pershing to support the firm’s growth and enhance its wealth management offerings.

Arete Wealth, founded in Chicago in 2007, has established itself as a sophisticated financial services and wealth management firm. The company offers a wide range of services, including investment banking, asset management, financial planning, and alternative investments. With over 50 offices nationwide, Arete Wealth has earned a reputation as a top US independent hybrid broker-dealer and RIA.

BNY Pershing, a subsidiary of The Bank of New York Mellon Corporation, is a renowned provider of clearing and custody, trading, advisory, and investment solutions to wealth management and institutional firms globally. The company oversees trillions of dollars in assets under custody and management, making it a trusted partner for financial services firms seeking to grow their businesses.

The collaboration between Arete Wealth and BNY Pershing signifies a strategic move to enhance the wealth management offerings and capabilities of both firms. This partnership is expected to benefit advisors and clients of Arete Wealth by providing access to innovative technology solutions and a comprehensive suite of wealth management tools.