TIAA Selects BNY Pershing's Wove Platform for Unified Wealth Solution

Strategic Insights -

TIAA, a division of the financial services company TIAA, has selected BNY Pershing's Wove platform as the unified wealth solution across its broker-dealer, investment advisor, and bank custody businesses. The implementation of the Wove platform is aimed at improving the client and advisor experience when navigating between different investment accounts and services. This move marks a significant milestone in TIAA Wealth Management's journey to become the preferred financial partner for clients to and through retirement and on to the next generation.

Key Takeaways:

  • The Wove platform will provide TIAA Wealth Management's advisors and clients with an intuitive interface directly with Salesforce and a modern, mobile-friendly portal that integrates into TIAA's Wealth Management website.
  • The platform will enable clients to collaborate with their advisors and provide expanded self-service capabilities, including the ability to manage their accounts, view their portfolios, and receive personalized advice.
  • The implementation of the Wove platform will also streamline operations for TIAA Wealth Management staff, providing powerful, automated, and orchestrated workflows as well as enhanced portfolio management capabilities.
  • The full implementation of the Wove platform will occur over the next few years, with the initial build phase currently underway.
  • TIAA Wealth Management advisors and portfolio managers will play a critical role in shaping the transformation through their expertise and feedback.

Statistics:

  • BNY Pershing's Wove platform will oversee $55.8 trillion in assets under custody and/or administration (as of June 30, 2025).
  • TIAA paid more than $5.9 billion in lifetime income to retired clients in 2024 (ii).
  • TIAA has $1.4 trillion in assets under management (as of June 30, 2025) (iii).

Sources:

  • PR Newswire, "TIAA Selects BNY Pershing's Wove Platform for Unified Wealth Solution" (October 15, 2025)
  • BNY, About BNY (no date)
  • BNY Pershing, "BNY Pershing: Leader in Clearing and Custody" (no date)
  • TIAA, "About TIAA" (no date)
  • PLANSPONSOR, "2025 DC Recordkeeping Survey" (June 25, 2025)
  • TIAA, TIAA-CREF Individual & Institutional Services, LLC, Member FINRA (4894806)
  • Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, "Fact Sheet" (2025)