BNY Mellon-owned Pershing has been chosen to provide full UK wrap administration and execution capabilities to Saga Investment Services, a new joint venture from Tilney Bestinvest, a UK wealth manager, and Saga, the UK-listed provider of services focused on people aged over 50. Pershing will provide a UK wrap administration capability, including its execution-only SIPP and investment account and ISA wrappers.
Pershing goes on to say that the Saga Investment Services website, launched in November 2015, uses its solutions to support full online account management. These include the opening of accounts, amending of personal data, funding investments using a debit card, trading, transferring money between accounts and accessing valuations and documentation such as contract notes and consolidated tax vouchers. All execution is through Pershing’s Trading Services.