A Wealth of Data: How to Leverage it into Holistic Advice and Guidance

As a U.S. $59 trillion bubble of wealth works its way down to Gen X’ers and Millennials, it will behoove wealth managers to cater to these younger populations, who have grown up with technology, often prefer online services, and seek a centralized platform for managing their investments in one place. Banks and wealth managers must do all they can to understand their customers in order to demonstrate knowledge with customized recommendations and solutions. To gain the level of insight needed to give financial advice, banks and wealth managers need a centralized database to better manage and distribute information across a variety of disparate account management systems. On November 12th at 2 PM ET/11 AM PT, we’re sponsoring a complimentary webinar with American Banker discussing how to leverage bank data into holistic advice and guidance. Below are the experts presenting:

  • Evan Shuman, Moderator/Reporter, American Banker
  • Darrin Courtney, Wealth Research Director, TowerGroup
  • John Bird, VP Product Marketing and Alliances, Yodlee®
  • Eran Agrios, Product Marketing at Salesforce

Discussion Summary With the migration of advisor technology solutions moving from local servers to the cloud, the ability for advisor software to be centrally managed and continuously available has led to a massive rise in software integrations within this sector. Yet as information and data flows more freely across the advisor technology stack, it is becoming increasingly more frustrating for advisors to manage their business and deliver holistic wealth advice and guidance to their clients in a seamless and integrated way. Advisors are looking for a single centralized database to manage their practices and monitor key performance indicators, and a single portal for clients to effectively manage their personal financial information, advice and reporting. The convergence towards a single advisor practice management dashboard and a single client portal, though, raises the question of where exactly these software tools will be anchored. Ultimately, delivering a centralized database for advisors and wealth managers to deliver holistic advice and guidance will depend on the type of relationship the firm wants to have with their clients. Register here to find out how to offer real time, goal-based advice and guidance; deliver smarter advice, improve regulatory compliance, and garner increased assets under management; and eliminate repetitive administrative tasks. Follow @Yodlee @AmerBanker on Twitter for the latest updates!