Should you work with BNY Mellon?

bny mellon wealth management

Company Background

BNY Mellon Wealth Management is a branch of the Bank of New York (BNY) Mellon Cooperation. It was formed back in 1784 where Alexander Hamilton was one of the principal founders.

The firm has financial advisers that work with institutions, families, and even individuals who want to make investments. 

According to their service page, the firm offers clients a range of types of services like wealth planning and investment management. They also offer private banking and credit and lending services.

To form Mellon Wealth Management, the Bank of New York and Mellon Financial Corporation had to merge. That is how they came up with the name. It was among the founding firms to have family office businesses that are very dedicated to their clients.

BNY Mellon headquarters are found in downtown Boston near Boston Common. The firm also has a lot of offices around the U.S and also others in Hong Kong, Toronto, London, and Grand Cayman.

How to open an account with BNY Mellon?

To find a BNY office near you, you have to visit their website and look at the list of locations, and you can search your area by zip code. The firm also provides two ways to get in touch with them, and you can call them or write them a message.

If you decide to call them, there is a provided number where you can speak to a wealth management professional.

However, if you choose to write to them, you should ensure that you include your contact information like your full names, city and state, and phone number.

If you want to be their client, you will also be required to fill a written investigation management agreement. When you become a client, you will discuss your goals with an advisor you will be working with closely. 

That way, it can be easier to determine your expectations and objectives and explore the proper asset allocation of your portfolio depending on your risk tolerance and goals.

After analyzing every part of your portfolio, the advisor will create a plan that will be implemented after you approve it.

Once the project is in place, you will now experience active management of your portfolio. You will be able to routinely visit your goals so that you can rebalance and get new opportunities.

Does the Firm Accept All Clients?

This firm works with different types of clients, from organizations to families and even individuals. It also provides the client's advisors with the required information to serve the clients well. 

However, the firm only targets wealthy people and works with them to meet their complex investment and banking requirements.

For them to serve you, you have to pay a minimum fee of $25000 per year. This amount is unattainable for low-level investors. The firm does not have a specific minimum account size, but your account's minimum charge must be heavy.

What Products & Services Does BNY MWM Provide?

The above firm has a vast number of services that they offer. Most of the services are possible because it is a financial services company and a part of global banking.

The services are somehow client based but below are some of the standard services that the firm offers:

  • Donor-Advised Funds
  • Credit and lending services
  • Information management and Asset servicing
  • Office investment solutions (Family)
  • Self-directed investment services
  • Endowment and foundation services
  • Wealth and estate planning
  • Investment management
  • Planned giving services
  • Jumbo mortgages
  • Private banking
  • Fiduciary services
  • Escrow services
  • Philanthropy

The firm also offers advisory services for investment opportunities through their pooled investment autos and separate accounts. When you become the firm's client, you will be served by dedicated professionals with all the expertise you need.

You will get answers to all wealth, investment, asset servicing, private banking, and other essential questions you may have. It all means that when you hire BNY M Wealth Management, you will get all the dedicated financial guidance that you need.

Dealing with High-Net-Worth Customers

The firm has extensive experience in dealing with wealth difficulties during the last two centuries. Through all that time, it has worked with very wealthy individuals that have a high net worth. 

They help such clients have visions and goals through the right strategy to coordinate and provide the necessary support and resources, not forgetting estate and wealth planning.

Other services offered to wealthy clients include:

  • Administration and estate settlement
  • Risk and insurance management solutions
  • Wealth protection and transfer
  • Concentrated wealth solutions
  • Investment Philosophy
  • Family governance
  • Tax planning

Company Investment Strategies

BNY Wealth Management has various investment strategies they offer. They build every client's portfolio differently depending on the chosen methods. Although the firm uses model portfolios, it still tailors the services to fit its investment guidelines and objectives.

On top of model portfolios, the company also advises on investments by way of pooled investment cars. The pool has set guidelines and objectives and cannot be personalized, and the client has to follow the procedures as they cannot be edited.

The firm is also aiming at delivering an enhanced after-tax portfolio and minimizing the risk. It has an emphasis on objective-driven management and architecture and asset allocation.

Pensions and Non-Profits

The BNY Mellon wealth management has more than two hundred and thirty years of experience, and that is enough to serve all the needs of pensions and non-profit organizations, no matter how complex. Their depth and breadth are like no other wealth management firm.

They are very dedicated to understanding your needs and help in case your institution faces unique issues. A tremendous non-profit needs great services from an excellent firm like BNY Mellon.

Another great thing about them is that they don't plan. Everything is customized according to your needs, and you are free to change it.

Other benefits include:

  • Endowment & Foundation Services
  • Defined Benefit Plan Services
  • Planned Giving Services
  • Donor-Advised Funds
  • A Client-First Focus
  • Unique Expertise


Each client is generally charged a percentage of assets under management. However, they still require a minimum fee of $25000 to $250000. The costs vary depending on the strategy employed.

Active Equity Product Line

Investment Strategy Fee Range Per Year

Type of Investment StrategyApplied Fee Range (Annual)
Small Cap Value0.75% – 1.00%
Global Research0.20% – 0.80%
Global Equity0.35% – 1.25%
Minimal Cap Growth0.65% – 1.00%
Large Cap Value0.25% – 1.05%
Opportunistic Value0.60% – 1.00%
Emerging Markets Value0.60 – 0.85%
Applied fee range for active equity product line

Index Product Line

Investment Strategy Fee Range Per Year

Type of Investment StrategyApplied Fee Range (Annual)
International Equity Indexing0.05% – 0.30%
Fixed Income Indexing0.02% – 0.23%
Global Equity Indexing0.10% – 0.20%
U.S. Equity Indexing0.04% – 0.07%
DT Indexing0.15%
Applied fee range for index product line

Fixed Income Product Line, Multi-Factor Equity and Multi-Asset

Investment Strategy Fee Range per Year

Type of Investment StrategyApplied Fee Range (Annual)
Global Macro Alternative Investments1.25% – 1.50%
Global Multi-Strategy Alternative Investments1.00% – 1.50%
Commodities Alternative Investments1.25%
(Fixed Income) Strategic Beta0.15% – 0.20%
Domestic Asset Allocation0.35%
Multi-Factor Fixed Income0.08% – 0.50%
Global Asset Allocation0.80% – 1.60% (depending on 10% active risk target)
Active Commodity0.90%
Multi-Factor Equity0.25% – 0.80%

Active Fixed Income (Product Line)

Investment Strategy Fee Range Per Year

Type of Investment StrategyApplied Fee Range (Annual)
Stable Value0.20%
Municipal Bond0.15% – 0.40%
Multi-Sector Fixed Income0.10% – 0.50%

On top of the above fees, the firm clients must also pay brokerage, custody, and other minimal transaction fees. You will also be required to pay administrative costs and different expenses that you will be informed about.

The firm also deducts some fees according to some funds and accounts performance. That is mainly done when the account is outperforming its specified benchmark.

Why Choose BNY Wealth Management?

Positive reviews

The main reason you should go for the above firm is that it has very many positive reviews. Another fact is that they have won many awards in the years they have been in service, which means they are doing right.

Several awards

In 2017 the firm was ranked in the top 10 wealth managers in the U.S by Barron's. In 2018, the BNY Wealth Management was ranked #1 best private bank globally that deals with intergenerational wealth management by Global Finance magazine as the global winner for the.

It has also won awards for excellent banking services; that means it is the best. It doesn't stop there; it has also been picked as the best U.S private bank by the Private Banking Awards. This shows it's the best in customer service.

Great advice

The firm has had many prosperity, possibilities, and uncertainties, but that has helped them know what to do and what to avoid. 

They have a deep understanding of all their clients, and that will ensure you become successful. In addition, you will get advice that will make you satisfied and make you more money.

Customized strategy

Each of their clients has a customized strategy; they revolve around five very essential wealth practices.

They include investing and borrowing, and then spending and managing, lastly is protecting. In addition, the firm provides a lot of support around the practices so that you can navigate the unexpected and unexplained.

Great leadership

The firm has excellent leadership with excellent experience and the required knowledge to ensure that you make money. In addition, they come up with specialized strategies that consider your objectives and goals.

Deals with different types of clients

The firm has services for individual clients and institutional clients. If you are an individual and want their services, you will get high-touch services backed by a superb global firm with many resources. The advice they give you will depend on your needs, and you are free to change them.

If you are an institution, the firm has deep fiduciary knowledge making them the best partner. The firm can partner with endowments, family offices, and even non-profits. No other wealth management firm has been able to provide that level of support.

What are some of the downsides of BNY Mellon Wealth Management?

The first downside is that it is unattainable for lower-level investors. That is because it charges an annual fee of at least $25000. The company says the asset levels can impact the payment, but there are no specific breakpoints like other wealth management companies give out. 

Another downside is that they do not offer a rate for different asset-level management. Instead, they give you a fee range.

It also charges extra fees depending on the performance of different accounts and funds; these fees are mainly based on the net return of the client's portfolio. That is if it exceeds a specific hurdle rate or benchmark in a certain period.

The fee can also be determined by return strategies which means more deductions from you. The final downside is that the company allows some of its employees to sell securities and earn a commission. That, in turn, creates a conflict of interest.


Like other Wealth Management firms, BNY Mellon also has disclosures. The disclosures, however, are primarily officialized by the Bank Corporation as a whole. In 2017, the Corporation agreed that it would pay around $6.6 million for settling the charges they did not handle appropriately.

In 2015, which was one of the highest settlements, the Corporation paid up to $14 million to settle civil charges. It was about a violation of federal bribery law where it gave internships to official's family members in linkage to sovereign wealth fund in Middle Eastern.

BNY Mellon secret to wealth generation

BNY Mellon believes that the industry has underestimated the power of two significant developments thought gradual over two decades.

The first is the retirement benefits shift from company pensions to employee saving plans. That means that employees are responsible for their financial futures.

The second thing is the aging of the population in large economies. That means in the future, and there will be low economic growth, and the market returns will be lower. The two developments have significant implications that can lead to successful wealth management.


BNY Mellon Wealth Management is one of the best firms to invest your wealth if you are looking for a place to invest.  They can protect and grow your wealth by giving you advice, and that also makes them successful. Their clients are delighted, and that makes them very loyal for generations.