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Important Transition Update Regarding Your Wealth Account(s)

Sent on November 23, 2022

Your Wealth Account(s) Will Transition on November 30, 2022

We continue to make progress with the transition of your wealth account(s) to BNY Mellon | Pershing, which includes finalizing your paperwork and setting up your new BNY Mellon | Pershing account(s). Thank you for your patience and diligence in working with us to complete the paperwork.

We will begin transitioning your wealth account(s) on November 30, 2022. We expect to complete all transfers the week of December 5, 2022. Please view key information regarding the transition below.

Transition Details
  • Your account(s) will be frozen two business days before we initiate the transfer to BNY Mellon | Pershing. This means your account(s) will be frozen from trading at the end of business on November 28, 2022 until live at BNY Mellon | Pershing.
  • If you have scheduled payments during this timeframe, we are working with your custodian to initiate those payments early. If you anticipate making any distributions or have other cash needs during this time period, please contact your advisor or service team to initiate those requests before end of business on November 28, 2022.
  • You will know that your account(s) is/are live at BNY Mellon | Pershing once your account number(s) changes in Wealth Management & Trust to start with YAV. This should happen the week of December 5, barring any issues during the transition. Once live, trading will resume on your account(s) and cash needs can be processed. You will also see the new account number(s) reflected on your December statement.
  • During this process, you can continue to view your account(s) via our website, Wealth Management & Trust. Please contact your advisor if you don’t have access.
  • To view additional information on the transition, please visit our client resource page.
Our Commitment to You

Brian Andrew, EVP & Chief Investment Officer, recently recorded a short video discussing our ongoing commitment to providing you exceptional customer service. This is the foundation of why we entered into a strategic relationship with BNY Mellon | Pershing, whom we believe is a leading service provider qualified custodian for you – our valued client - going forward.

Our Transition to BNY Mellon | Pershing

Required Minimum Distribution (RMD) Reminder!

Please make sure to take your RMD(s) from your IRA(s) or qualified plan(s) before December 31, 2022. If you fail to do so, there could be an IRS penalty. If you would like to review your current RMD figures, please contact your advisor. Please contact your tax preparer if you have any questions related to your RMD eligibility.

Please feel free to contact your advisor or service team with any questions. We appreciate your patience and trust as we enter the final stage of the transition.