'This is another great opportunity,' said Jennie Devlin, Cantella COO.
Boston, MA (PRWEB) May 04, 2015
Earlier this year, Cantella & Co., Inc., (http://www.joincantella.com) began working with The Bank of New York Mellon to offer Private Banking Services to Pershing end-clients. The services include credit and lending solutions that were previously only available to BNY Mellon’s Private Banking clients. "This is another great opportunity to further expand the tools and resources we provide to enable our representatives to offer competitive rates on a suite of lending products that high-net-worth clients require," said Jennie Devlin, Cantella President and COO. "Our representatives have the freedom to decide when and if these products are appropriate, without conflicts of interest, quotas or minimum referral levels. We understand they are the most knowledgeable about their clients' needs and are thrilled to be able to offer these additional solutions."
“I obtained a mortgage approval and closed within 8 days. My client was ecstatic,” said Jay Edwards, principal of Milford, NH-based Granite Financial Partners. “In a second case, I was able to promptly secure a $1 million line of credit for a not-for-profit institution to help improve its facility. Each came through the Cantella/Bank of New York Mellon program. I chose Cantella to support my independent RIA in order to get access to innovative solutions such as these.”
BNY Mellon’s Private Banking services available to Cantella representatives include: Investment Credit Lines (ICL) structured for financing needs of $1 million+ while providing competitive LIBOR-based pricing, no minimum draw or pre-payment penalties with interest-only paid on the borrowed amount. ICL interest rates are competitive with major wirehouse programs. Also available are residential jumbo mortgages with a $500,000 minimum loan amount, hybrid fixed- and variable-rate loans, jumbo mortgages with no money down, construction–to-permanent mortgages with a single application, and letters of credit for commercial needs. BNY Mellon is a portfolio lender, which means it does not sell its mortgages and does not need to follow Fannie Mae and Freddie Mac guidelines. As a portfolio lender, it can be innovative and creative, and custom tailor mortgage solutions to best meet a client's needs. Known for flexibility, BNY often closes loans in 30 days.
“I position myself on the same side of the table as my clients,” said Cantella representative Bradford Pine of Garden City, NY, when asked about the Cantella/Bank of New York Mellon program. “Knowing I can be an advocate and advisor is part of how I ensure that my business is always serving my clients’ needs. We are here to find the best solutions for our clients.”
Cantella & Co., Inc., (http://www.joincantella.com) is a leading independent broker-dealer dedicated to helping financial professionals assist clients in retirement and education planning, and efficient tax management. Its representatives utilize numerous wealth management tools to help individuals, families, and business owners develop investment portfolios and strategies to meet their short- and long-term goals.
BNY Mellon is a global investment company dedicated to helping clients manage their financial assets. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services. BNY Mellon’s wealth-management business was named the top U.S. private bank and top private bank serving family offices by Family Wealth Report in 2015.
For more information, please contact:
Joseph Finora at: 631-680-7870/jfinora(at)optonline(dot)net
Michelle Miele at: 617-224-1423/mmiele(at)cantella(dot)com.
Cantella & Co., Inc., is an independent broker-dealer with approximately 200 representatives nationwide providing individuals, businesses and institutions with a broad range of financial products and services including investments, insurance, annuities, securities brokerage and asset management. Additional information may be found at: http://www.joincantella.com.
Certain statements in this document may be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act. These statements are based on management’s current expectations and subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors. More information about these factors is contained in Cantella & Co., Inc.’s Securities and Exchange Commission filings.
Cantella & Co., Inc., member FINRA/SIPC was founded in 1952 by Vincent Cantella and is located at: 28 State St., Boston, MA 02109, tel: 617-521-8630, http://www.joincantella.com. For further information or to speak with Cantella personnel, members of the media should contact Joseph Finora at: jfinora(at)optonline(dot)net.