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BNY Mellon led a $14 million funding round in bondIT to help it create better portfolio proposals for its clients, with detailed analytics and reporting.  

Financial advisors are looking for ways to use complex analytics and automation to more efficiently optimize their clients’ portfolios, especially as the economic climate pummels the market. 

BNY Mellon has invested in fixed income platform bondIT to help its financial advisors better manage client portfolios. The startup’s platform automizes portfolio research, construction, and management, using artificial intelligence to flag potential risks or investment opportunities ahead of the wider market.  

The partnership essentially expands BNY Mellon’s “portfolio optimization capabilities,” according to managing director John Goodheart, who is joining bondIT’s board.  

BNY Mellon began its relationship with bondIT in 2021, when the startup joined its accelerator program, highlighting how these hubs can become catalysts for deeper relationships and tailored innovation.  

As the economic outlook remains uncertain into 2023, financial advisors want access to technology that can give them an edge in helping their clients build wealth: JPMorgan made two similar investments earlier this month.