Compelo Banking is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

BNY Mellon unveils fee management service for asset managers

BNY Mellon has rolled out a fee management service for asset managers to enable them determine which distributors are most efficiently distributing their funds.

BNY Mellon has rolled out a fee management service for asset managers to enable them determine which distributors are most efficiently distributing their funds.

The service will be provided through BNY Mellon’s transfer agency group in collaboration with Delta Data Software.

BNY Mellon claims that its service will help asset managers understand the services they are receiving for the fees they pay to broker-dealers.

BNY Mellon’s global financial institutions business enterprise investor services head, Michael DeNofrio, said, "This service provides our asset manager clients with the opportunity to better understand and reconcile fees paid while providing a broader view into their distributor relationships."

"This is a full-service solution that automates functions that many asset managers have been performing manually. Utilizing inefficient, manual systems could potentially result in efficiencies in tracking fund distribution."

"We are committed to continually enhancing our services to both asset managers and broker-dealers to help them address the unique challenges they face in today’s marketplace," DeNofrio added.

At present, BNY Mellon offers shareholder recordkeeping services to more than 150 million shareholder accounts with assets of more than $3.9trn.