Ultra-high-net-worth clientele of Wealth Access, with Estate Platform 2.0, had already removed the hassle of organizing complex, multi-generational financial portfolios, but with Version 3.0 the company has taken up its concierge-level support to a new management tier, offering the distinctive ability to split ownership of accounts between entities and members.
From an advisor’s perspective, this accessibility allows deeper engagement with the second and third generation of families who are more likely to want increased visibility, while also giving frequent access to easily create and track an unlimited number of entities and partnerships.
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J. Kelley Williams, Jr. of Greenover Group, said: "The Wealth Access dashboards facilitate decision making by allowing me to view our entire portfolio — both consolidated and by entity — at a glance, bringing the unique aspects of the family enterprise to life. WA aggregates data for us, so we can move our efforts from reconciling statements and entering data to reviewing asset allocation and making investment decisions."
Furthermore, by visualizing data and permissions the next generation of children can really see a portion of their wealth and scale, which, in turn, has the educational benefits of maturity and responsibility within ongoing family dynamics. No one else has the discrete ability to allocate wealth within a system to a given number.
Ben Francois, president, Canterbury Consulting, said: "Wealth Access is a great addition to our suite of wealth management solutions. It allows us to shift resources away from information gathering and towards more collaboration with our clients and their network of advisors, resulting in a measurable impact on the quality of service we provide."
Ultimately, Wealth Access Estate Platform 3.0 has the ability to take multi-generational reporting and see it powerfully come to life as a useful tool through an enhanced system, capturing the complete balance sheet for a UHNW family. Its sophisticated hierarchical reporting structure provides complete discretion and ownership for several generations.
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By GlobalDataWilliams added: "With the features in version 3.0 including digital vault and cash flow reporting, Wealth Access is poised to become an integral part of our family office."
