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custodian

BNY Pershing

In PWD coverage since August 18, 2026 · 9 stories
PWD coverage
Features

BNY Pershing retires Wove, folds it into wealth unit as Fitch lists cash-rate winners

The custodian will not say how many advisors use Wove; Fitch sees Schwab, LPL, Raymond James, Ameriprise and Stifel gaining from higher client cash rates.
The Close · Sep 29Merrill prices shelf access at up to $1.4 million as Raymond James embeds alternatives
practice · Sep 29BNY Pershing folds Wove into Adam Vos's wealth solutions unit
RIA · Sep 29BNY Pershing retires the Wove brand and folds platform into wealth solutions
practice · Sep 15Pave's $15M round prices advisor AI at the custodian layer
Deals & PE · Sep 14Pave's $100 million valuation is a bet on advisor distribution
M&A · Sep 10Vanguard paid $4.6 billion for the account rail
practice · Sep 1Don't Pull a Schwab: Vanguard's Altruist Trust Test
move · Aug 18Most advisors never see the true cost of clearing and custody
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