Leading independent broker-dealer & RIA with over $6B in assets under management expands and enhances its wealth management platform
CHICAGO, July 12, 2024 /PRNewswire/ — Arete Wealth, a full-service Broker-Dealer (BD) and Registered Investment Advisory Firm (RIA), has announced the expansion of its clearing and multi-custodial wealth management platform via long-term clearing, custody, and technology agreements with BNY Pershing, a leading provider of global financial business solutions.
As part of the agreement, advisors from Arete Wealth will now have access to BNY Pershing X’s Wove wealth management platform, designed to help registered investment advisors, broker-dealers, and wealth management firms connect an investor’s full financial picture in one place through offerings such as Wove Investor, Wove Data, and Wove Advisory’s Portfolio Solutions.
“We’re proud to be deepening our relationship with Arete Wealth, a firm whose focus on providing its advisors with the right resources to scale and serve clients matches our mission to help advisors help more people,” said Ben Harrison, Head of Wealth Solutions, BNY Pershing. “Their decision to use our Wove wealth management platform, along with the new suite of Wove products unveiled just last month, is a testament to the strong collaboration we’ve built over the years.”
Arete Wealth supports RIAs, wealth managers, and advisor teams seeking an elevated business experience in investing. In addition to traditional wealth management products, the firm’s bespoke alternative investment platform currently features more than 60 offerings from dozens of sponsors including artwork, hedge funds, private equity, venture capital, real estate, and more. Pershing’s suite of solutions will support the firm’s growth across all these areas.
“We are thrilled to collaborate with one of the top providers of clearing and custody services in the industry,” said Joshua Rogers, CEO and Founder, Arete Wealth. “As we expand and enhance our wealth management platform, Pershing’s commitment to high-growth, sophisticated wealth managers, along with its focus on innovative technology offerings, makes them a perfect provider for our elite financial advisors.”
About Arete Wealth
Arete Wealth, Inc. is a remarkably sophisticated financial services and wealth management firm. Arete Wealth offers expertise across a wide array of services including investment banking, managing broker-dealer services, financial and estate planning, investment advice and asset management, insurance and annuities, and an art and wine consultancy. The firm delivers financial solutions via institutional, full-service, and direct-to-consumer digital investment channels. Arete Wealth’s diversified offerings and unique access to alternative investments, venture capital, and private equity programs are incomparable in the industry. The firm’s financial professionals are highly ranked within the industry, serving clients that include high-net-worth individuals, institutions, other broker-dealers, independent registered investment advisors, family offices, and sponsors of investment offerings.
Founded in Chicago 2007, Arete Wealth has over 50 offices across the country and is consistently ranked a top US independent hybrid broker-dealer and registered investment advisory firm, based on growth and revenue. Find out why the firm is the right fit for refined investing at www.aretewealth.com.
About BNY
BNY is a global financial services company that helps make money work for the world — managing it, moving it and keeping it safe. For 240 years we have partnered alongside our clients, putting our expertise and platforms to work to help them achieve their ambitions. Today we help over 90% of Fortune 100 companies and nearly all the top 100 banks globally access the money they need. We support governments in funding local projects and work with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of March 31, 2024, we oversee $48.8 trillion in assets under custody and/or administration and $2.0 trillion in assets under management.
BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). We are headquartered in New York City, employ over 50,000 people globally and have been named among Fortune’s World’s Most Admired Companies and Fast Company’s Best Workplaces for Innovators. Additional information is available on www.bny.com. Follow us on LinkedIn (link) or visit our Newsroom (link) for the latest company news.
BNY Pershing (member FINRA, NYSE, SIPC) is a leading provider of clearing and custody, trading and settlement, advisory and investment solutions, data insights, business consulting and other services to wealth management and institutional firms looking to grow their businesses. For more information, go to www.pershing.com.
SOURCE Arete Wealth
