Integrate Pershing With BillFin

For more than 80 years, financial institutions around the world have chosen to work with BNY Mellon’s Pershing. Pershing has proven itself to protect our clients’ interests while providing them with the most innovative financial solutions possible.

As a business-to-business provider, Pershing provides financial solutions to financial advisors, broker-dealers, family offices, hedge funds, registered investment advisor firms,  and wealth managers. Advisors can maximize opportunities and grow their practices by relying on the industry expertise, innovative solutions, and powerful technology that Pershing offers.

In 2015, Redi2 licensed its premier fee billing and revenue management solution, Redi2 Wealth Manager(™), to Pershing LLC to enable the establishment of an innovative Enterprise Billing System.   Pershing consolidated four standalone asset-based billing systems into Redi2’s hosted platform, which was then integrated into Pershing’s NetX360® platform.

This integration with Redi2 enables Pershing’s advisor clients to offer a diversified product portfolio to their investor clients. Among other benefits, integrating with WealthManager gives Pershing the flexibility to manage complex billing and fee calculation for multiple custodians. Some of the benefits realized include unlimited fee schedules, multiple billing methods, payee allocation methods, payment instructions, multi-custodial support, billing customization, and billing history.

In addition, Redi2 now offers an integration for its BillFin clients that custody at Pershing allowing for advisors to take advantage of the powerful billing and invoicing features within BillFin directly.

How To Connect BillFin with Pershing

If you’d like to integrate your Pershing and BillFin accounts, simply follow the steps below to get started.

  1. Reach out to Pershing to let them know there will be a BillFin connection
  2. We reach out to Pershing and provide them with our connection workbook
  3. The customer will be required to confirm that the information can be shared with BillFin
  4. We receive the data including Office Numbers and IP (investment professional)  numbers
  5. We then establish the connector and alert the customer that it’s connected
  6. Customer can then visit the Clients page and begin syncing Client’s within BillFin
  7. Note: this process can take up to 3 weeks depending on how long it takes for Pershing to provide BillFin with the Customer data for the connection.

Want To Learn More About Connecting Pershing With BillFin?

Want to know more about how BillFin’s powerful billing and invoicing software for advisors can integrate with Pershing? Schedule a guided demo with a member of our customer success team by clicking the button below.