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BNY Mellon Investment Management and Wilshire Associates Launch Transformative Advisor-Focused Custom Target Date Platform

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BNY Mellon Investment Management announced a new partnership with Wilshire Associates to launch the BNY Mellon Investment Management Custom Target Date Builder, a transformative advisor platform, which will provide more choice to the Target Date Fund business dominated by large fund providers. Retirement Plan Advisors will now be able to design and build turnkey custom target date solutions, access institutional quality research and glide path management expertise, that were previously only available to the largest, multi-billion dollar plans.

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The BNY Mellon Investment Management Custom Target Date Builder empowers advisors to provide plan sponsors and plan participants with a new level of customization, scalability and open architecture Target Date solutions. Now advisors have the ability to democratize the solutions available for plan sponsors and combine active and passive in low-cost mutual funds and Collective Investment Trusts (CITs). They can also develop portfolios that include 18 asset classes, as well as open architecture within Wilshire’s independently rated strategies, sophisticated, defined manager selection and allocation process.

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Advisors have a powerful platform that:

  • Helps limit fiduciary risk;
  • Facilitates ability to consult on plan lineup (within and outside of Target Date solution);
  • Scales the custom Target Date portion of their book;
  • Works with funds beyond recordkeeper lineup; and
  • Permits preferred funds that pass Wilshire screen.

“The BNY Mellon Investment Management Custom Target Date Builder platform is a game-changer for advisors and builds on BNY Mellon Investment Management’s efforts to evolve our business such as the Dreyfus rebrand in 2019, introducing certain zero-fee ETF funds and an expanded OCIO offering to investors and institutions in 2020,” said Andy Provencher, head of North America Distribution, BNY Mellon Investment Management. “This new platform is a further testament to our commitment to the DCIO market and provides advisors with greater target date fund choice.”

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