JERSEY CITY, N.J., Dec. 3, 2013 /PRNewswire/ -- Pershing LLC, a BNY Mellon company, today announced that a second major 529 college savings plan provider, John Hancock, is now available through NetX360^®, Pershing's technology platform for advisors. In addition to providing advisors with even more choice in college savings options for their clients, advisors also benefit from increased efficiency of streamlining the account establishment and funding processes. The platform allows advisors to open, fund and consolidate 529 plan accounts directly through NetX360. John Hancock's Freedom 529 Plan joins American Funds' CollegeAmerica^® plan on Pershing's no-fee college savings program. The platform's open architecture design will allow more 529 plans to be added in early 2014 and beyond.

"In addition to meeting the needs of their clients in a growing, yet underserved market, advisors will be able to broaden the portfolio of solutions they offer and manage," said Rich Calvario, vice president of financial solutions at Pershing. "529's are also attractive given that they are a reliable means for intergenerational wealth transfer as parents and grandparents help subsequent generations prepare to meet the financial needs for their education."

Advisors have access John Hancock's Freedom 529 Plan through NetX360. The plan offers a diverse mix of age and static-based investment options that allow advisors to match clients with the investment objective that embodies their risk tolerance and savings goals.

Calvario added, "The rising cost of a college education coupled with the strong demand for a college degree has further increased the urgency behind saving for college. Advisors have traditionally faced challenges when trying to introduce clients to a plan that achieves their investment objectives and is easily managed within the context of their full portfolio of investments. Our goal is to continue adding quality plans to the platform while improving technical capabilities that maximize the advisor's efficiency and effectiveness."

In 2012, Pershing was the first clearing firm to offer 529 college savings plans through its brokerage platform. The first plan that Pershing made available, CollegeAmerica, is managed by American Funds, sponsored and administered by Virginia 529 and is the United States' largest 529 plan.

Pershing and its affiliates provide global financial business solutions to approximately 1,600 financial organizations, broker-dealers, registered investment advisory firms, advisors, fund managers and asset managers who represent over 5.6 million active accounts. Located in 23 offices worldwide, Pershing delivers dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Pershing is a member of every major U.S. securities exchange, and its international affiliates are members of the Deutsche Borse, Australian Stock Exchange, Irish Stock Exchange, London Stock Exchange and Toronto Stock Exchange. Pershing LLC (member FINRA/NYSE/SIPC) is a BNY Mellon company. Additional information is available on pershing.com, or follow us on Twitter @Pershing.

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle.  Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets.  As of September 30, 2013, BNY Mellon had $27.4 trillion in assets under custody and/or administration, and $1.5 trillion in assets under management.  BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).  Additional information is available on www.bnymellon.com, or follow us on Twitter @BNYMellon.

Contact:
Paul Patella
+1 201 413 3609
paul.patella@pershing.com

SOURCE BNY Mellon