How secure is your financial institution?


Palumbo Wealth Management is pleased to provide BNY Mellon | Pershing as custodian and offer private banking services to our clients. Many of the world’s most sophisticated and successful financial services firms rely on BNY Mellon | Pershing for their clients. BNY Mellon | Pershing is an indirect, wholly-owned subsidiary of BNY Mellon Corporation and it serves the foremost wealth managers, RIA, family offices and investment advisors in 35 countries around the world. As one of the world’s most respected financial institutions, BNY Mellon is a world-renowned leader in investment management and investment research and its strength dates back to its founding by Alexander Hamilton in 1784. BNY Mellon has $35.8 trillion in assets under custody and/or administration and $1.9 trillion in assets under management.

By having the strength of BNY Mellon | Pershing safeguarding our clients’ assets and offering our clients access to BNY Mellon’s Private Bank resources, Palumbo Wealth Management can operate from a position of maximum strength.

BNYM Resources


The Registered Investment Advisor (RIA) model is the purest form of a financial advisory role that we could possibly find to best serve you. It provides us the freedom to offer you a wider array of options and opportunities.

There are five main reasons we made the decision to move to the RIA model:


Fewer conflicts of interest. Palumbo Wealth Management has legal fiduciary duty to you, our clients. We do not answer to shareholders and there are no products that we must sell. All our advice must be objective.


Access to greater resources.  We are not limited to the proprietary tools, research, and resources of a single firm. We are a truly open architecture organization, providing unbiased advice and independent investments. BNY Mellon | Pershing not only allows investment advisors to use its custodial platform, but it also provides us with full access to a suite of resources through BNY Mellon’s Private Bank.


Greater operating efficiency. As an RIA, adding personnel to our team to enhances our service and effectiveness to you, our clients. We now have the flexibility and choice to access state-of-the-art technology that will help us improve your digital experience as it relates to portfolio reporting, risk management and financial planning tools. This technology will help simplify and organize our clients’ financial matters in a way that will strengthen our level of service.


A holistic financial approach. Clients receive our advice on all matters related to their financial lives. With full access to the resources that the financial services industry has to offer, we have strengthened our service delivery and we are able to perform at a high level for our clients.


Safekeeping and compliance. Your assets are our number one priority. Partnering with BNY Mellon | Pershing to serve as our bank custodian for all assets that our clients hold, ensures all those assets are safe and sound.