BNY Pershing Taps PureFacts to Power Advisor Compensation and Billing in Wove Platform
In a move that underscores the growing demand for intelligent revenue tools in wealth management, PureFacts Financial Solutions has been named the exclusive provider of billing and advisor compensation solutions for BNY Pershing’s Wove platform. It’s a quiet but strategic shift that could reshape how advisory firms manage profitability and performance incentives.
A Precision Upgrade to the Back Office
The announcement solidifies PureFacts’ role as a key infrastructure partner within Wove—BNY Pershing’s modular platform aimed at modernizing wealth management workflows. While Wove already offers a broad suite of advisory tools, the addition of PureFacts’ revenue intelligence adds a sharp edge to its capabilities.
The integration brings automation and analytics into two of the most sensitive and complex areas for advisory firms: revenue collection and advisor pay. For firms struggling to scale operations or plug revenue leaks, it’s a timely offering.
“PureFacts gives us a strategic advantage,” said Noam Tasch, Head of Platform Sales at BNY Pershing. “It supports our mission to simplify and transform the advisor experience.”
Pete Hess, President of PureFacts, echoed the alignment: “Together, we’re helping wealth managers stop leaving money on the table—and rethink compensation as a growth engine.”
Why This Matters Now
Wealth management is undergoing a quiet tech revolution. As fee compression continues and client expectations rise, firms are under pressure to do more with less—streamlining operations, justifying costs, and attracting top talent with smarter incentives.
BNY Pershing’s choice of PureFacts reflects a broader trend: the back office is the new battleground. In an industry obsessed with front-end experiences, revenue leakage from outdated billing systems and opaque compensation plans is a hidden killer.
Firms that ignore it risk falling behind.
With this deal, BNY Pershing is betting that tight, modular integrations—not monolithic systems—will define the next generation of wealth tech. And PureFacts, with its laser focus on revenue optimization, fits that mold.
The Bigger Picture
This move also signals intensifying competition in the advisor platform space. Giants like Envestnet, Orion, and Fidelity’s Wealthscape have all been pushing toward more comprehensive, cloud-native ecosystems.
By partnering with a specialist like PureFacts, BNY Pershing sidesteps the “build versus buy” conundrum and accelerates innovation without bloating its tech stack.
The implications are clear: firms that prioritize smart integrations over sprawling platforms may gain a competitive edge—not just in tech performance, but in profitability.
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