Pershing, LLC--Westminster Financial Securities, Inc. utilizes the custody, clearing and execution services of Pershing, LLC (Pershing). Pershing is a subsidiary of BNY Mellon, the nation’s oldest continuously operating bank and one of the world’s leading providers of securities services. Pershing has $988.8 billion (as of March 31, 2010) in assets held in custody. Its parent, the Bank of New York Mellon Corporation, has $25.5 trillion in assets under custody and administration.
This key relationship provides Westminster the ability to leverage Pershing’s leadership in technology and infrastructure, market access, compliance practices and product development. It is through this relationship that Westminster can access on a regular or ad hoc basis truly world-class, world-wide scale and experience.
Third Party Asset Managers—When a situation demands particular specialization or the demands of diversification of strategy warrant, Westminster has a menu of leading separate account investment managers to address these needs. These managers have been chosen based upon their value-added expertise, superior support and reputation to provide specialized and targeted management services as part of a client’s overall investment strategy. Typically used to augment a core strategy, these partners provide strategic, administrative and technical synergies not available through other alternatives.
Mutual Fund Managers—Westminster maintains dealer agreements with dozens of the leading mutual fund managers and distributors in the industry. This enables Westminster to provide its clients, both large and small, the best managers at the best cost that best fits the needs of its clients. Advisors and their clients are essentially unlimited in their choice of investment fund alternatives, share classes and expense categories. This diversification of investment expertise and unparalleled access allows the focus to be on the client’s needs rather than supporting a preferred or captive provider.
Variable Annuity Sponsors—the increasing flexibility of income and principal protected annuity products has dramatically changed the variable annuity landscape. Westminster has developed long-term relationships with the most sound and stable insurance company sponsors to provide its advisors and their clients access to reliable and experienced partners