NEW YORK, Sept. 17, 2021 /PRNewswire/ -- BNY
Mellon Investment Management, one of the world's largest asset
managers with $2.3 trillion in assets
under management1, in partnership with Wilshire, a
diversified global financial services firm and leading provider of
investment consulting services, today announced expanded access to
its BNY Mellon Custom Target Date BuilderSM (CTDB),
with Voya Financial becoming the first recordkeeper to support the
solution. The CTDB is a new advisor solution that provides
more choice to the target date business, with custom retirement
portfolio modeling tools typically only available to the world's
largest institutions.
"As we expand access to our CTDB offering, we are delighted that
Voya, a top-tier recordkeeping firm, will be supporting this
advisor solution," said Andy Provencher, head of North America
Distribution, BNY Mellon Investment Management. "Voya's platform is
a great choice for our CTDB offering as its advisor-friendly, open
architecture platform enables retirement specialists to build plan
level custom target date solutions in an efficient and bespoke
manner for retirement plans of all sizes."
Customization in target date funds has been popular in the mega
plan DC market for years, and the BNY Mellon CTDB solution now
provides retirement advisors with imbedded glidepath and model
management and the ability to leverage their own research and
intellectual capital. Launched in December 2020, BNY Mellon's CTBD solution allows
advisors to provide plan sponsors and their plan participants with
a unique level of customization and scalability through the open
architecture offering now available through Voya's recordkeeping
platform.
"At Voya, we continue to see client and advisor interest in our
offerings, capabilities and resources, and we are delighted to be
the first recordkeeper to support the CTBD," said Jeff Cimini,
senior vice president, retirement product
management at Voya Financial. "We remain
focused on providing the products and programs that we know will
support the financial professionals we work with to help their
clients reach their future goals. Using the technologies already in
place in our systems today, CTDB provides a new opportunity for
advisors to implement their own strategies, ultimately helping to
facilitate better retirement outcomes."
This month, the BNY Mellon Investment Management DC sales team
was pleased to have the opportunity to engage with advisors
face-to-face at the NAPA 401(k) Summit, the premiere industry event
for advisors and the first major in-person conference in nearly two
years, where BNY Mellon Investment Management was proud to support
NAPA's Top Women Advisors at this year's event and attendees were
able to view a demo of the CTBD solution and meet with Wilshire and
Voya partners.
To learn more about the BNY Mellon Custom Target Date Builder,
please visit our website
at im.bnymellon.com/ctdb.
About BNY Mellon Investment Management
BNY Mellon
Investment Management is one of the world's largest asset managers,
with $2.3 trillion in assets under
management as of June 30, 2021.
Through an investor-first approach, BNY Mellon Investment
Management brings to clients the best of both worlds: specialist
expertise from eight investment firms offering solutions across
every major asset class, backed by the strength, stability, and
global presence of BNY Mellon. Additional information on BNY Mellon
Investment Management is available on www.bnymellonim.com.
BNY Mellon Investment Management is a division of BNY Mellon,
which has $45.0 trillion in assets
under custody and/or administration as of June 30, 2021. 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. Follow us on Twitter @BNYMellon or visit our
newsroom at www.bnymellon.com/newsroom for the latest company
news.
About Wilshire
Wilshire Advisors LLC is a leading
global financial services firm, dedicated to improving outcomes for
investors worldwide. An independent firm since its founding in
1972, Wilshire advises on $1.3
trillion in assets of which approximately $87 billion is assets under management.
Specializing in innovative investment solutions, consulting
services and multi-asset analytics, Wilshire serves more than 500
institutional and intermediary clients worldwide from 10 offices
around the globe. For more information about Wilshire,
visit www.wilshire.com or follow @WilshireAssoc.
About Voya Financial®
Voya Financial, Inc.
(NYSE: VOYA), provides health, wealth and investment solutions that
enable its approximately 14.8 million individual, workplace and
institutional clients to achieve their financial wellness goals
with confidence. With a vision to be America's Retirement Company®,
Voya's products, solutions and digital capabilities help create a
better financial future for all. Voya is a Fortune 500 company that
had $7.6 billion in revenue in 2020
and $721 billion in total assets
under management and administration as of June 30, 2021. Certified as a "Great Place to
Work" by the Great Place to Work® Institute, Voya is equally
committed to conducting business in a way that is socially,
environmentally, economically and ethically responsible. Voya has
been recognized as a 2020 World's Most Admired Company by Fortune
magazine; one of the 2020 World's Most Ethical Companies® by the
Ethisphere Institute; as a member of the Bloomberg Gender Equality
Index; and as a "Best Place to Work for Disability Inclusion" on
the Disability Equality Index by Disability:IN. For more
information, visit voya.com. Follow Voya Financial on Facebook,
LinkedIn and Twitter @Voya.
Media Contacts:
BNY Mellon Investment Management
Jessica Rutledge
917.683.6820
Jessica.rutledge@bnymellon.com
Voya Financial
Laura
Maulucci
Office: (860)
580-1278
Cell: (508) 353-6913
Laura.Maulucci@voya.com
Wilshire Associates
Lisa
Herbert
+1 310 728 5341
lherbert@wilshire.com
All investments involve some level of risk, including loss of
principal. Certain investments have specific or unique risks.
An investment in a target date strategy does not eliminate the
need for an investor to determine whether a strategy is appropriate
for their specific financial situation. An investment in a strategy
is not guaranteed. Investors may experience losses, including
losses near, at, or after the target date, and there is no
guarantee that a strategy will provide adequate income at and
through retirement.
BNY Mellon, Wilshire Associates and Voya Financial are not
affiliated entities. BNY Mellon accepts no responsibility for
content on any third-party sites or for the services provided.
The BNY Mellon Custom Target Date Builder is distributed by BNY
Mellon Securities Corporation, a registered broker-dealer. BNY
Mellon Securities Corporation does not provide investment advice
and is not a fiduciary for the program.
This press release is qualified for issuance in the U.S. only
and is for informational purposes only. It does not constitute an
offer or solicitation of securities or investment services or an
endorsement thereof in any jurisdiction or in any circumstance in
which such offer or solicitation is unlawful or not authorized.
This press release is issued by BNY Mellon Investment Management to
members of the financial press and media and the information
contained herein should not be construed as investment advice.
1 As of June
30, 2021.
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SOURCE BNY Mellon Investment Management