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TIAA Wealth Management Selects BNY Pershing's Wove to Advance the Client and Advisor Experience

1. TIAA selects BNY Pershing's Wove platform for unified wealth solutions. 2. The new system enhances client experiences and advisor interactions. 3. Streamlined operations will improve efficiency for TIAA Wealth Management staff. 4. Implementation will occur over the next few years, starting now. 5. The partnership aims to support clients across all life stages.

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Why Bullish?

The strategic partnership with BNY Pershing can enhance BNY's service offerings and client satisfaction, potentially leading to increased assets under management. Historical partnerships have often led to stock price enhancements due to improved operational efficiencies and growing client bases.

How important is it?

The article describes a significant technological investment that aligns with BNY's operational strategy, indicating a probable positive long-term influence on stock performance. Investments in technology often correlate with increased market share and customer retention, hence impacting BK's financial health positively.

Why Long Term?

The benefits of the Wove platform will unfold over time as TIAA Wealth Management fully implements it, hinting at sustained growth rather than immediate gains. Similar long-term technology upgrades in the financial sector have historically resulted in steady stock price increases as firms become more competitive.

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TIAABK
Industry-leading platform integration to deliver seamless wealth management solutions for retirement savers , /PRNewswire/ -- TIAA Wealth Management, a division of TIAA, today announced selection of BNY Pershing's Wove platform as the Unified Wealth solution across TIAA Wealth Management's broker-dealer, investment adviser and bank custody businesses. BNY Pershing's unified platform will improve the client and advisor experience when navigating between different investment accounts and services. Implementing the technology will mark a significant milestone in TIAA Wealth Management's journey to become the preferred financial partner for clients to and through retirement and on to the next generation. The business serves clients across all life stages: young professionals beginning their investment journey, mid-career individuals seeking advice, those transitioning into retirement, and people enjoying retirement. "We are making a significant, long-term investment in the way we equip our advisors and serve our clients," said David Nason, CEO of TIAA Wealth Management. "By harnessing technology to deliver deeper insights and more meaningful conversations, we are ensuring clients receive personalized advice and confidence at every stage of their financial journey." The initiative will deploy two integrated experiences: Wove Advisor, which provides wealth management professionals with an intuitive interface directly with Salesforce; and Wove Investor, which offers clients a modern, mobile-friendly portal that integrates into TIAA's Wealth Management website and expands self-service capabilities."The wealth management industry is evolving rapidly, and clients need new technology solutions to navigate across various accounts, tools and services," said Jim Crowley, Global Head of BNY Pershing. "Wove was built to address the complex process of moving between technology platforms, helping to show a client's full financial picture in one place. We are thrilled to deepen our longstanding relationship with TIAA to more holistically support their wealth managers and help them deliver more for their clients." Key benefits include: Enhanced Client Experience: Clients will gain a modern, one-stop shop intuitive interface with expanded self-service capabilities, including the ability to collaborate with their advisors. Streamlined Operations: TIAA Wealth Management staff will benefit from powerful, automated and orchestrated workflows as well as enhanced portfolio management capabilities. Seamless Integration: Wove capabilities will connect with existing TIAA Wealth Management systems to create a cohesive experience across TIAA's retail investing solutions for clients. The full implementation will occur over the next few years, with the initial build phase currently underway. TIAA Wealth Management advisors and portfolio managers will play a critical role in shaping the transformation through their expertise and feedback. TIAA Wealth Management delivers on TIAA's century-long mission by providing actionable financial advice to our retirement plan participants. As a trusted partner, our comprehensive approach combines dedicated financial consultants and wealth management advisors with innovative digital solutions to deliver advice. About BNY BNY is a global financial services company that helps make money work for the world – managing it, moving it and keeping it safe. For more than 240 years BNY has partnered alongside clients, putting its expertise and platforms to work to help them achieve their ambitions. Today BNY helps over 90% of Fortune 100 companies and nearly all the top 100 banks globally access the money they need. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of June 30, 2025, BNY oversees $55.8 trillion in assets under custody and/or administration. BNY Investments is part of BNY and is one of the world's largest asset managers with over $2.1 trillion in assets under management, offering investment solutions across every major asset class to the institutions and intermediaries it serves. BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Headquartered in New York City, BNY has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. Additional information is available on www.bny.com. Follow on LinkedIn or visit the BNY Newsroom for the latest company news. BNY Pershing (member FINRA, NYSE, SIPC) is a leading provider of clearing and custody, trading and settlement, advisory and investment solutions, data insights, business consulting and other services to wealth management and institutional firms looking to grow their businesses.  Brokerage custody provided by Pershing LLC, member FINRA, NYSE, SIPC, a BNY company. Brokerage services may be provided by Pershing Advisor Solutions LLC, member FINRA, SIPC. Bank custody provided by BNY Mellon, N.A, member FDIC. Investment advisory services, if offered, may be provided by BNY Mellon Advisors, Inc., an investment adviser registered in the United States under the Investment Advisers Act of 1940 or one or more affiliates of BNY. Technology services may be provided by Pershing X, Inc. For more information visit www.pershing.com. About TIAA TIAA provides secure retirements and outcome-focused investment solutions to millions of people and thousands of institutions.i It paid more than $5.9 billion in lifetime income to retired clients in 2024ii and has $1.4 trillion in assets under management (as of 06/30/2025).iii Learn more about TIAA Read the latest TIAA news   X  |  LinkedIn  |  Facebook i.    Based on data in PLANSPONSOR's 2025 DC Recordkeeping Survey published June 25, 2025.ii.    As of December 31,2024, TIAA paid out $5.9B in total annuity income. This figure represents all annuity income, including guaranteed and additional amounts, for all of TIAA's annuity products. iii.  As of June 30, 2025, assets under management across Nuveen Investments affiliates and TIAA investment management teams are $1,441 billion. This material is for informational or educational purposes only and is not fiduciary investment advice, or a securities, investment strategy, or insurance product recommendation. This material does not consider an individual's own objectives or circumstances which should be the basis of any investment decision.TIAA Wealth Management is a division of TIAA.Advisory services are provided by Advice & Planning Services, a division of TIAA-CREF Individual & Institutional Services, LLC, a registered investment adviser. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributes securities products.(4894806) ©2025 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, New York, NY SOURCE TIAA WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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