The Bank of New York Mellon Corporation and iCapital, a global fintech platform, have announced a strategic alliance to deliver an integrated offering through BNY Pershing's Wove and BNY Mellon's Alts Bridge platforms. This collaboration aims to streamline access to alternative investment products for wealth advisors.
The alliance will enable shared clients to access funds managed and operated by iCapital, delivered by both Alts Bridge and iCapital upon integration. Wealth advisors will gain the ability to holistically manage their accounts in Wove, encompassing both alternative and traditional holdings.
Ainslie Simmonds, Executive Platform Owner, Wealth Service Platform for BNY Mellon, stated that this alliance helps unlock access for advisors to alternatives and private markets by providing a streamlined experience and a more comprehensive set of investment options. This integrated solution is expected to be unique in the market, allowing advisors to focus on client financial goals.
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