BNY Mellon is a subsidiary of The Bank of New York Mellon Corporation. The firm's roots date back to 1784, when Alexander Hamilton played a key role in founding The Bank of New York, the oldest U.S. private bank, shortly after the Revolutionary War.
BNY Mellon's wealth management team of financial advisors work with individuals, families and institutions across the globe. The firm provides its clients with services ranging from investment management and wealth planning to private banking and credit and lending services.
BNY Mellon Wealth Management Background
The firm assumed its current name in 2007 when The Bank of New York Company, Inc. and Mellon Financial Corporation merged. As previously mentioned, The Bank of New York dates back to 1784. Hamilton wrote the bank's constitution and served as one of the bank's directors. BNY Mellon also claims to be among the first firms to create a dedicated family office business.
As a subsidary of The Bank of New York Mellon Corporation, the wealth management firm conducts business under its legal name: Mellon Investments Corporation. The Firm is structured into two distinct divisions: Mellon, focused on index-based investment strategies, and Dreyfus, which concentrates on managing cash and short-term fixed income portfolios.
BNY Mellon Wealth Management Client Types and Minimum Account Sizes
The overwhelming majority of the firm's assets under management (AUM) belong to institutional clients like investment companies, retirement plans, charitable organizations, government entities, insurance companies, 529 plans, trusts and others. The firm does however work with several dozen individual clients.
The firm does not specify a minimum investment or account size requirement.
Services Offered by BNY Mellon Wealth Management
Mellon offers a notably extensive array of services, many of which are made possible because of it’s part of a larger global banking and financial services company. Though its exact services available vary somewhat by client type.
The firm operates through eight separate investment strategies: U.S. Equity Index, International Equity Index, Global Equity Index, Emerging Market Equity Index, Green Beta Equity, Fixed Income Index, Direct Indexing and Tax Overlay.
Mellon may provide additional relationship-based services for existing clients and prospective clients. Such relationship-based services are negotiated individually with each client and may include certain account monitoring, trading or strategic allocation services. The firm may offer guidance through individual consultations or written research reports. The scope of each consultation is tailored to the client's specific needs and may cover areas such as asset allocation, assessment of new investment services in relation to the client's goals, and support for product development.
BNY Mellon Wealth Management Investment Philosophy
Mellon applies a rules-based, index-centric investment philosophy across multiple asset classes, with a focus on minimizing tracking error while allowing for customization based on client needs. Their strategies are designed for institutional investors seeking scalable, transparent, and tax-aware solutions. The firm offers eight primary investment strategies:
U.S. Equity Index: Provides exposure to U.S. equity markets by replicating benchmark indexes.
International Equity Index: Offers access to developed markets outside the U.S. through index tracking.
Global Equity Index: Delivers broad equity exposure across U.S., developed, and emerging markets.
Emerging Markets Equity Index: Targets equities in emerging and frontier markets for higher growth potential.
Green Beta Equity: Aligns portfolios with ESG objectives using client-specific risk and return preferences.
Fixed Income Index: Tracks U.S. and global bond benchmarks for diversified fixed income exposure.
Direct Indexing: Customizes portfolios for tax efficiency and ESG integration.
Tax Overlay: Adds tax optimization to existing strategies to enhance after-tax returns.
Fees Under BNY Mellon Wealth Management
BNY Mellon generally charges clients a percentage of their assets under management for its investment advisory separate account services. However, the firm generally requires a minimum annual fee that ranges from $50,000 to $250,000, and will vary depending on which strategy is employed
| Index Product Line | |
| Investment Strategy | Annual Fee Range |
| U.S. Equity Index | 0.01% - 0.10% |
| International Equity Index | 0.02% - 0.25% |
| Global Equity Index | 0.02% - 0.09% |
| Fixed Income Index | 0.01% - 0.22% |
| Green Beta Equity | 0.05% - 0.15% |
| Fixed Income Index | 0.01% - 0.22% |
| Emerging Markets Equity Index | 0.06% - 0.14% |
| Direct Indexing | 0.16 - 0.30% |
What to Watch Out For
As is the case with many of its close competitors, Mellon Investments has some disclosures. However, all but one of these disclosures are attributed to The Bank of New York Mellon Corporation as a whole.
Also, because the firm generally requires a minimum annual fee of at least $50,000, many of its investment strategies are out of reach for lower-level investors.
Additionally, the firm does charge performance-based fees for certain accounts or funds. These fees are based on a portfolio's net return in excess of a specified benchmark or hurdle rate during a specified period of time, or they may be based on absolute return strategies. Also note that certain BNY Mellon employees earn commissions from selling securities, which may create a potential conflict of interest.
Opening an Account With BNY Mellon Wealth Management
To find out if there is a nearby BNY Mellon office, simply go to the firm’s website and pull up the list of office locations, which is searchable by zip code. BNY Mellon provides two ways to get in touch. You can speak with a wealth management professional by calling the firm's general inquiry number, (877) 385-9899. Or, you can submit a message through its website and provide the firm with your contact information.
Clients are generally required to complete a written investment management agreement. Once you become a client, you can first expect to discuss your goals and work closely with an advisor to determine your objectives and expectations. From there you'll explore the proper asset allocation for your portfolio based on your goals and risk tolerance. After each part of your portfolio is analyzed, a plan will be created and implemented, should you approve it.
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