Advisors and wealth managers serving high net worth clients have been offered a new loan service by US-based Bank of New York Mellon via one of its UK-based affiliate businesses.

Pershing has launched Nexus Loans, a collateralised lending service enabling advisors and wealth managers to provide their investors with the opportunity to borrow cash secured against their portfolios at competitive interest rates.

The solution accepts a wide range of securities to be used as collateral and allows investors to maintain their investment holdings whilst accessing this source of multi-purpose funding.  Nexus Loans also offers borrowers flexible loan amounts without a fixed repayment schedule, Pershing said.

Pershing caters for broker-dealers, asset managers, intermediary firms, and financial institutions across Europe. The business was set up in 1987 in London.