SunGard has launched MyWealthSeries, a set of online financial planning tools for advisors to offer their clients and prospects from their own Web sites.
MyWealthSeries provides advisors with a cost-effective vehicle for offering online tools that help investors become more informed and engaged in the management of their wealth. Leveraging financial planning concepts and calculators from SunGard's WealthStation wealth management platform, MyWealthSeries is delivered as a Software-as-a-Service (SaaS) via SunGard's Infinity storefront.
Investors are more sophisticated than in years past, are comfortable with technology and are demanding better insight and transparency into the investment process. At the same time, independent advisory practices are experiencing an increased demand for their services as investors seek more guidance and steeper service levels from their advisors. SunGard's MyWealthSeries helps investors run quick assessments of how they are positioned against their financial goals-including retirement, education, asset allocation and survivorship-without having to leave the firm's Web site. In addition, MyWealthSeries offers advisors with limited resources the ability to adopt these online tools quickly and cost-effectively in a SaaS, pay-as-you-go environment, without requiring the use of SunGard's WealthStation platform or other advisor system.
Blaine Maxfield, chief operating officer of SunGard's wealth management business, said, "Service is a key differentiator for advisors, and by placing technology at the center of the investor experience, advisors stand to regain investor trust and ultimately grow their businesses. SunGard's MyWealthSeries tools give investors the ability to actively participate in the financial planning process and collaborate with their advisors."
MyWealthSeries helps firms provide investors with calculation tools based on four main financial planning concepts: education; retirement; survivorship; and asset allocation. Education projects future higher education funding needs based on current resources and calculates savings needed to fund the goal. Retirement projects retirement funding needs based on current resources, including Social Security, and calculates monthly savings needed to fully fund the retirement goal. Survivorship projects available income and determines if survivors are likely to experience a financial shortfall, and Asset Allocation calculates recommended asset allocation by analyzing current risk tolerance. While these calculation tools leverage capabilities of SunGard's WealthStation platform, an implementation of WealthStation or other advisor application is not required for customers to utilize MyWealthSeries.
MyWealthSeries' interactive user interface employs easy-to-use input fields, slider bars to adjust assumptions, and dynamically generated charts to illustrate important results. After entering their information in one of the available planning tools, clients can test, review and learn more about how their financial information and assumptions impacts funding their goals, using "what if" scenarios. Using a simple design that complements an advisor's Web site, MyWealthSeries pages can be opened in a secondary window or framed within the advisor's own Web site to carry through the firm's branding.
SunGard is a leading provider of wealth management solutions that help banks, trust companies, brokerage firms, insurance firms, benefit administrators and independent advisors acquire, service and grow their client relationships.