Yodlee, the platform for financial innovation, today released 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. 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.
"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. "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"
According to Yodlee's research, 73 percent 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. WealthCenter offers investors sophisticated tools to help them understand their net worth history, personal rate of return, investment allocations, and asset categorization.
"Self-directed investors are vastly underserved online," said Anil Arora, president and CEO of Yodlee. "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 andgreater collaboration with their advisors."