Marianne Caswell, President of Park Avenue Securities, and Christina Townsend, Head of Client Executives at BNY Pershing, joined Keith Black, Managing Director of RIA Channel to discuss their firm’s growth strategies and the future of wealth platforms.
Park Avenue uses a three-pronged strategy to fuel their growth: strengthening distribution through recruitment, retention, and succession; offering the right products and services to meet client needs across generations; and optimizing partnerships with firms like BNY Pershing to scale operations.
Townsend emphasized that organic growth is key for long-term success, with firms reevaluating their value propositions and offering holistic solutions to meet both current and future client needs. She advised firms to focus on executing a few key strategies for organic growth success.
As for technology, Caswell said they rely on key technology partners – such as BNY Pershing – and look for ones that are nimble and AI-powered, both of which help support firms to scale their operations. That’s why they are partnering with BNY Pershing’s Wove platform, which integrates services like planning, trading, rebalancing, and custody to help advisors scale their businesses. Townsend emphasized that the Wove platform’s client-facing features allow for a seamless digital experience, giving clients a comprehensive view of their financial picture in a single platform.
Resources:
- Park Avenue Securities’ Growth Strategy
- BNY Pershing’s Wove Platform Overview
- In Search of the Exceptional Client Experience