Wealth Access, an independent personal financial management and account aggregation platform, has launched a new business intelligence application designed to provide insight into an advisory firm’s business performance. The new analytical tool, Wealth Access Firm Insight, provides an aggregated view of wealth management businesses through features that measure and intelligently display key business performance indicators, providing top-down information and business intelligence to help RIAs, Banks, Trusts and Broker/Dealers make more informed business decisions while also identifying new business opportunities, along with views into advisor productivity and client satisfaction.
“In order to grow, compete and succeed in a more competitive environment, wealth management leaders need real time business information about how their firms are performing, how productive their advisors are, as well as opportunities to increase revenues,” said David Benskin, CEO of Wealth Access. “Previously, that information was hidden from decision makers or difficult to cobble together from disparate systems. Now via Firm Insight in Wealth Access, that data is immediately available via a firm dashboard to help executives and their advisors stay on top of opportunities and ways to enhance their firms.”
By being an “aggregator of aggregators,” Wealth Access is able to go above and beyond providing an aggregated view of client holdings to be able to also tap into visual-aggregated displays of clients’ entire financial situations, cash flow and budgeting, personal financial statements and integrations with financial planning systems through links to over 20,000 institutions via enterprise components and APIs.
TREASURE TROVE OF INFORMATION
This information is then aggregated at the firm level through Firm Insight so that executives are able to see, at a glance, key performance metrics such as growth rates, advisor productivity, and client relationship development opportunities, while also providing insight into compliance areas.
“Firm Insight is a powerful system that will really help us to better manage our firm by being able to see on one screen each of our advisors and their entire business,” said Daniel Carter, President The Trust Company based in Knoxville, TN. “Features such as the ‘Activity Mode’ in Firm Insight enable us to see key information about our clients and identify opportunities to grow these relationships.”
Troy Jordan, Managing Director of INTRUST, has been an active user of Firm Insight and one of the platform’s early beta testers. “Before Firm Insight, we were operating at a disadvantage in not having key information available. Now, this critical functionality is helping us to be more efficient with our resources and as a result, we are able to more intelligently manage and grow.”
ABOUT WEALTH ACCESS
Wealth Access is a wealth management technology firm that provides reporting solutions for the high net worth advisor and investor community. Its proprietary and diagnostic cloud-based platform aggregates information from more than 20,000 financial services institutions and various holdings to deliver an aggregated view, allowing for better decision support in investments, tax planning, insurance and other complex situations faced by high net worth individuals. Founded by a former Merrill Lynch high net worth advisor, Wealth Access provides a complete platform for advisors to collaborate with other professionals and position themselves central to their clients’ lives. Headquartered in Nashville, TN, Wealth Access is backed by successful investors and notable wealth management technology platforms. Account aggregation continues to provide powerful benefits to advisors. According to a recent study by Wealth Access, firms deploying aggregation technology are experiencing a $2,000 increase in revenues per client on an annual basis. To access the study results and learn more about Firm Insight, log onto www.WealthAccess.com.