Amplifying the voices of clients brings diverse perspectives and experiences together to build stronger businesses and deliver meaningful and sustainable community impact.

The power of client voices is exactly what I experienced in June at our recent BNY Mellon | Pershing INSITE conference in Grapevine, Texas. As a leading global provider of clearing and custody services, we work with broker-dealers, registered investment advisors and institutional firms.

With the theme of reimagine the future of wealth management, attendees from the financial advice community, Next-Gen future leaders, minority business entrepreneurs (MBEs), and thought leaders gathered to discuss the possibilities and strength of community. What resonates from being at INSITE is we are all better off when we work towards a common goal. The measure of success is how well we have tapped into different points of views and backgrounds. Here are a few takeaways from the MBE Education and networking make it possible Advisory Council experience at INSITE:

Bringing the voices of diverse entrepreneurs forward is an imperative

The council comprises C-suite clients who lead successful minority, women and veteran-owned businesses. These thought leaders and influencers collaborate with us on ways to amplify opportunities and identify how we can address roadblocks to their growth and success.

It’s an ongoing dialogue as the council brings the perspective of leaders who are driving positive change within the financial services industry and the communities they serve. The group is committed to sharing ideas for the betterment of MBE firms. Even though some may compete in the same markets, these leaders recognize that there is common ground to build success for all. A great example of this collaboration is the recent BNY Mellon $1.7 billion senior medium-term notes issuance led by minority-owned financial fi rms, in the second quarter of 2022.

No one size solution fits all

While MBE companies are often painted with the same brush, they are very distinctive in what they bring to the table to serve their customers. Those differences are our clients’ superpower. So, we are laser focused on ways to help drive their unique brand.

For example, access to our senior leaders and decision makers across all lines of business is key to the client experience. It’s a win/win for all and an opportunity to look at solutions with the potential to address important priorities for their firm and ours.

Education and networking make it possible for clients to grow

Participating firms in the council are at different stages in their business lifecycle. Newer ones are gaining great insights from the well-established fi rms. The seasoned entrepreneurs in the group are seeing things differently through the lens of new market entrants. All of these clients are building value through collaboration.

From the education perspective, our MBE Advisory Council is actively engaged in our efforts to inspire students and recent graduates who want to navigate a pathway from the classroom to Wall Street to their own firms.

In summary, by bringing diverse perspectives and experiences to the forefront, our MBE Advisory Council is helping us shape how we can assist in advancing each firm’s success. In turn, we are taking the lessons learned to guide other MBE entrepreneurs to enhance their businesses and community impact.

James Roundtree, a Managing Director for the Institutional Solutions Group at BNY Mellon | Pershing, helps institutions and broker-dealers create, scale, manage costs and stay ahead of new regulations. James has over 40 years of experience in financial services.

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