Arete Wealth is expanding its clearing and custody services through a juiced-up partnership with BNY Pershing.
The prominent independent broker-dealer and RIA firm said Friday that it has entered into new long-term clearing, custody, and technology agreements with BNY Pershing.
“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," Ben Harrison, head of wealth solutions at BNY Pershing, said in a statement Friday.
Under the bolstered partnership with BNY Pershing, Arete Wealth’s advisors have been given access to BNY Pershing X's Wove wealth management platform. Designed for RIAs, broker-dealers, and wealth firms, it helps advisor users see the disparate pieces of an investor’s financial picture in one place with offerings that include Wove Investor, Wove Data, and Wove Advisory's Portfolio Solutions.
In June, BNY Mellon announced a new offering that packages together investment capabilities from across its platforms, which includes the Pershing X Wove platform.
“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," Harrison said.
Arete Wealth offers support to RIAs, wealth managers, and advisor teams seeking a sophisticated business experience in investing. Beyond traditional wealth management products, Arete Wealth's alternative investment platform includes over 60 offerings from sponsors across various sectors such as artwork, hedge funds, private equity, venture capital, and real estate.
"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 of 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," Rogers said.
It's a showdown for the ages as wealth managers assess its impact on client portfolios.
CEO Ritik Malhotra is leveraging Savvy Wealth's Fidelity partnership in offers to Commonwealth advisors, alongside “Acquisition Relief Boxes” filled with cookies, brownies, and aspirin.
Fraud losses among Americans 60 and older surged 43 percent in 2024, led by investment schemes involving crypto and social manipulation.
The alternatives giant's new unit, led by a 17-year veteran, will tap into four areas worth an estimated $60 trillion.
"It's like a soap opera," says one senior industry executive.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
