Yodlee, a US-based platform for financial innovation, has launched Yodlee WealthCenter, a new suite of tools and enhanced wealth data that reinvents how financial institutions interact with self-directed investors.
WealthCenter closes the gap between online banking and the specialized investor experience, consolidating self-directed investors’ assets into one easy-to-navigate dashboard.
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With unprecedented access and transparency for both investors and their advisors, financial institutions and investment firms can better serve the growing wealth segment and bring more assets under management.
WealthCenter offers investors sophisticated tools to help them understand their net worth history, personal rate of return, investment allocations, and asset categorization.
Darrin Courtney, research director at CEB TowerGroup, said: "We are seeing an increase in the demand for account aggregation capabilities in the wealth space, at all levels. Our recent advisor benchmarking survey indicated that nine out of ten advisors don’t have a holistic view of their client’s entire portfolio, which could hamper their ability to provide tailored advice. This creates an opportunity for technology to improve the on boarding and collaboration processes between clients and advisors."
According to Yodlee’s research, 73% of investors make their own investment decisions. With assets typically held across many financial institutions, self-directed investors need a single place to view all of their assets.
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By GlobalDataAnil Arora, president and CEO of Yodlee, said: "Self-directed investors are vastly underserved online. By delivering a 360-degree view of investment portfolios, WealthCenter unlocks new revenue channels for financial institutions and increases loyalty among customers who seek streamlined portfolio management and greater collaboration with their advisors."
