Financial advisors, fundsters, and other industry insiders are on the edge of their seats this morning awaiting the closing speaker at Pershing's 2015 INSITE advisor conference. At 11am, retired Yankee's shortstop Derek Jeter is slated to share his remarks and close out the conference.

Derek Sanderson Jeter New York Yankee's Former Shortstop

Pershing (BNY Mellon's RIA- and broker-dealer-focused clearing and custody giant) gathered about 2,000 people this week for the conference, held in Orlando, Florida. The baseball superstar isn't the only headliner: former U.S. Secretary of Defense Leon Panetta spoke on Wednesday, and former U.S. Secretary of State Madeline Albright is slated to speak this morning (before Jeter). The star speaker so far was former Federal Reserve Chairman Ben Bernanke; word among attendees is that Bernanke was witty and interesting, though he talked not about current events but about the financial crisis of six years ago.

Ben Shalom Bernanke Federal Reserve Former Chairman

The Pershing team unveiled their alliance with Marstone to create an FA-friendly robo advisor, news that FA magazine and InvestmentNews both picked up on. Pershing Advisor Solutions CEO Mark Tibergien also talked to WealthManagement.com about the robo advisor threat.

The Pershing team also unveiled a "digital enablement strategy", picked up on by WealthManagement.com.

And, as noted by InvestmentNews, Pershing CEO Ron DeCicco highlighted the strong growth of the RIA business (vs the traditional B-D business). The trade publication says that Pershing now serves 811 B-Ds and 562 RIAs, and notes that the RIA unit (Advisor Solutions, led by Tibergien) has grown to $160 billion in assets under custody, up from $30 billion seven years ago. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE