BNY Mellon Wealth Management
Overall Satisfaction Rating
3.67/5
  • 5 stars
    2
  • 4 stars
    4
  • 3 stars
    2
  • 2 stars
    0
  • 1 star
    1
Based on 9 reviews that contain star ratingsSHOW RATING DISTRIBUTION
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BNY Mellon Wealth Management

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Last updated: Oct. 12, 2017

9 BNY Mellon Wealth Management Consumer Reviews and Complaints

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Verified Reviewer
Original review: Oct. 12, 2017

BNY Mellon Wealth Management offers a very intuitive financial advisor service. The advisers are very level-headed and are genuinely interested in making the online banking experience as seamless as feasibly possible for the consumer. Advisers are assistive, but ultimately they give the consumer the final verdict to make an investment decision. Customers who use this service are accordingly matched with the appropriate advisory, per their precise fiduciary standing.

BNY Mellon offers multiple, flexible programs that allow customers to maximize their investments and diversify portfolio with little risk. Advisors offers suggestions and directionality when appropriate and when the proper plan has been selected, BNY Mellon makes it easy to manage all assets. Although the experience is very rewarding and beneficial, they could still provide their customers with more financial/investment tools to be able to strengthen their portfolio. These would include being able to divide assets into categories in a broader range.

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Verified Reviewer
Original review: Oct. 9, 2017

I used BNY Mellon Wealth Management for my mortgage and it was a fun experience. Their customer service is good. Whenever I needed help, I was able to extract information even in weekends. I opened my mortgage in their office, and it took me very little time. The communication was mostly through telephone and email transfer, and overall I feel the process was well documented. Although I would highly recommend them, I hope they'll cut down the prices a bit more. I went there because they were offering a comparatively lower price in the high-end market, yet the price is still very difficult to make ends meet.

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Verified Reviewer
Original review: Oct. 7, 2017

I like that the company actually provides for my financial needs. They care for those who are unfortunately financially in need which makes them good and helpful people. When using their online financial service, all you have to do is go to their website, click on get help with financial service and provide your information and you can then get a financial advisor. BNY is fine the way they are.

Verified Reviewer
Original review: Oct. 5, 2017

I like BNY Mellon Wealth Management. They see me as a person, not just a statistic. They are good at helping me generate wealth and answer any questions I have. But I hope that they could improve their web interface, as it is a little outdated. Despite this, it is intuitive while having more advanced features. There are a few things I can customize and I am highly satisfied overall.

Verified Reviewer
Original review: Oct. 4, 2017

I use BNY Mellon Wealth Management because it's close and handy. But they are a bad company, they do not have any features that I like that the other companies do nor offer. They should have better monthly fees meaning no monthly fees. They charge too much for fees and they keep adding up to the fees instead of making them down. I also feel that the alerts I get are way too late for important information and they need to step up. If someone stole my credit info then it needs to happen faster. Also the process of using online financial advisor is a chore you have to do, one that is important but not one you ever really want to do. Whenever I need to go and use it, I feel stressed out and it's not a experience I ever look forward to.

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Verified Reviewer
Original review: Oct. 3, 2017

BNY Mellon is a solid online financial resource. Their website was very easy to use and was very intuitive. It has all the basic features that you need to manage your fund, your accounts, and your investments. It's also very easy to contact any of their financial advisors and they respond very quickly to any and all of my questions. They could try to add a robo-investment feature which I believe is the way of the investment future and they should at least give it a try and implement it. So far, I have absolutely no complaints about their services.

Verified Reviewer
Original review: Oct. 2, 2017

BNY Mello Wealth Management offer Big-Picture Portfolios, user-friendly technology and tools that make it easy to visualize in my investment and planning for the future. Some parts of the service is easy to while other parts not so much. One difficult part to work with is customized planning and analyzing money flow to stay in line with my strategy. The experience has been great. However, advisers may not be always available to help manage my portfolio with strategies which makes it a little difficult to fully stabilize my long-term goals for my family.

Verified Reviewer
Original review: Oct. 1, 2017

It is an enriching experience with BNY Mellon. The service is very good with online tools and a chat feature. It brings good, practical advice and information within your reach. There is a short online questionnaire in almost FAQ format. More detailed questions are answered by online chat and the questions that fall outside this range are answered by email. More one to one personal contact would help a lot as there is no substitute for this kind of interaction.

Verified Reviewer
Original review: Sept. 27, 2017

BNY Mellon has a good history behind financial management; fair knowledgeable and thorough but a bit pricey and cumbersome. Got good returns on investment vehicle such as index mutual funds for IRAs and 401K plans as well as bond funds and individual stocks as well as closed ended mutual funds. But they should cut the fees as they cut into the earnings. When a simple stock trade can still cost $25 or more when discount brokers offer the same service for $7/trade or less this cuts into the gains resulted from capital management. Need special application to sell covered calls on round lots of stocks which would increase yield sometimes up to 49%.

There's the use of financial robot online if can't get to talk to a broker or financial advisor via telephone or email. But robots can't recommend puts or calls to either purchase or sell as the swings of a bull market may have a correction on a dime at which point puts can quadruple in value in a day or two and then lose 50% of value in the next trading session. Very dangerous but profitable.

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BNY Mellon Wealth Management expert review by Barbara Friedberg

BNY Mellon Wealth Management was founded by Alexander Hamilton in the late 18th Century and has been managing wealth since America began creating it. The company serves individuals, families, family offices, planned giving programs, endowments and foundations, professionals and institutions. In 2015, BNY Mellon Wealth Management was named “Best U.S. Private Bank” by Global Finance magazine. The company serves clients across the globe.

  • Services: BNY’s services include investment management, wealth and estate planning, private banking, asset services and information management.

  • Products: BNY Mellon has access to all traditional and most innovative financial products. Their approach utilizes strategic asset allocation, strategic architecture, asset management and objective-driven investing approaches.

  • Educational and client resources: BNY has a variety of educational and informative research and commentary available in the “Our Views” section of the website. Their research includes insights into many facets of the financial markets including fixed income, the economy and markets, wealth protection and legacy planning.

  • Best for: Individuals and institutions looking for sophisticated and high level financial management services.

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Barbara Friedberg

Personal Finance Contributing Editor

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Barbara Friedberg, MBA, MS is a former investment portfolio manager with decades of financial experience. Friedberg taught Finance and Investments at several universities. Her work has been featured in U.S. News & World Report, Investopedia, Yahoo!Finance and many more publications.

BNY Mellon Wealth Management Company Information

Company Name:
BNY Mellon Wealth Management
Website:
www.bnymellonwealth.com