More digital personal financial management (PFM) tools are coming to the wealthy.
Yodlee has announced a new suite of wealth management tools available for banks and investment firms to offer their clients, collectively called WealthCenter. They're designed to help advisors better serve their self-directed investor clients.
The tools let users view all of their assets on a single dashboard and better understand their net worth history, investment allocations and asset categorization.
"We are seeing an increase in the demand for account aggregation capabilities in the wealth space, at all levels," said Darrin Courtney, research director at CEB TowerGroup, in a press release. "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 onboarding and collaboration processes between clients and advisors."
