Arete Wealth, a full-service broker-dealer and registered investment advisory firm, has announced the expansion of its clearing and multi-custodial wealth management platform through long-term agreements with BNY Pershing.
These agreements cover clearing, custody, and technology services.
Under the agreement, advisers at Arete Wealth will gain access to BNY Pershing X’s Wove wealth management platform. This platform aims to consolidate an investor’s financial information through offerings such as Wove Investor, Wove Data, and Wove Advisory’s Portfolio Solutions.
BNY Pershing wealth solutions head Ben Harrison said: “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.
“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 registered investment advisers, wealth managers, and advisor teams with various investment products. The firm’s alternative investment platform features over 60 offerings, including artwork, hedge funds, private equity, venture capital, and real estate.
The integration with BNY Pershing’s solutions is expected to support Arete Wealth’s growth in these areas.
Arete Wealth CEO and founder Joshua Rogers said: “We are thrilled to collaborate with one of the top providers of clearing and custody services in the industry.
“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 advisers.”
Founded in Chicago in 2007, Arete Wealth operates more than 50 offices across the US, providing financial solutions through institutional, full-service, and direct-to-consumer digital investment channels.
