According to the company, with this enhanced banking feature, clients will have a flexible way to manage their day-to-day financial needs and the ability to view the activity of various accounts through a single web-based access point.

The CMAA is a brokerage account that holds investment assets and automatically directs any uninvested cash balances to a so-called ‘sweep account.’

Among the sweep account options is an FDIC-insured interest bearing account. Funds to cover a client’s ATM withdrawals, check card purchases or check payments may be redeemed from that account.

Other CMAA features include: deposit capabilities at bank branches: unlimited check writing, online bill payment, free ATM withdrawals worldwide and point-of-sale purchases; over draft protection for banking activity; limited margin capabilities; and secure client website for online trading, banking and bill payment and information reporting.

BNY Mellon Wealth Management head of Private Banking Bill Sappington said in addition to giving their clients excellent wealth management expertise, BNY Mellon is focused on how we deliver that service – in an intuitive, comprehensive way that simplifies their lives.

"This is just one example of how we sustain our high client retention rating," Sappington said.