Wealth Access Releases Research Results on the Business Benefits of Account Aggregation

Share Article

Return on investment for advisors is a stunning $240,000 per firm in annual new revenues, equating to $2,000 per client

Account aggregation on Wealth Access is returning an incremental additional $240,000 in revenues per firm and $2,000 per client annually.

Wealth Access, the industry’s largest independent personal financial management and account aggregation platform, announced today the results of industry research designed to quantify the power of account aggregation.

According to the research study, conducted in partnership with Nexus Strategy, LLC, a leading consulting firm to the wealth management industry, data on the Wealth Access Intelligent Aggregation platform was analyzed in the first quarter of 2017.

Based on 16,000 client inputs, over $4.8 billion in “held away” assets were aggregated through Wealth Access. Of that $4.8 billion, the 130 advisory firms using Wealth Access reported through survey data that they were able to “convert” or bring under their management approximately 65% of those assets, resulting in a total of $3.1 billion in incremental, new assets now under their management.

Using the industry standard pricing model of 1% of AUM, that $3.1 billion in assets is generating $31 million in new revenues, equating to an incremental additional $240,000 per firm and $2,000 per client annually.

“We’ve all known how important it is for advisors to have a complete view of the clients’ entire balance sheet to offer the best advice and guidance to their clients,” said David Benskin, CEO of Wealth Access. “However, there’s never been a research study designed to quantify the return on that investment until now. “

By being an “aggregator of aggregators,” Wealth Access is able to go above and beyond providing an aggregated view of client holdings to be able to also tap into visual-aggregated displays of clients’ entire financial situations, cash flow and budgeting, personal financial statements and integrations with financial planning systems through links to over 20,000 institutions via enterprise components and APIs.

The Intelligent Aggregation platform is built on the latest technologies to provide a flexible solution for advisors and their clients. Through over 60 “plug and play” widget applications (net worth views, cash flow analyses, asset allocation charts, financial planning analyses and more), advisors are able to integrate specific components to complement and extend their existing technology or deploy a complete custom solution for their specific needs.

“The true power of account aggregation is the ability for advisors to provide a great service to clients while also opening up tremendous opportunities to better penetrate their client relationships for business development,” said Benskin. “In today’s more complex and competitive operating environment, this is the one thing firms can can do to accelerate their growth.

To access the study results, log onto http://www.WealthAccess.com.

About Wealth Access

Wealth Access is an innovative wealth management technology firm that provides reporting solutions for the high net worth advisor and investor community. Its proprietary and diagnostic cloud-based platform aggregates information from more than 20,000 financial services institutions and various holdings to deliver an aggregated view, allowing for better decision support in investments, tax planning, insurance and other complex situations faced by high net worth individuals. Founded by a former Merrill Lynch high net worth advisor, Wealth Access provides a complete platform for advisors to collaborate with other professionals and position themselves central to their clients’ lives. Headquartered in Nashville, TN, Wealth Access is backed by successful investors and notable wealth management technology platforms. For more information, please log on to http://www.wealthaccess.com.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Timothy Welsh
Email >
Visit website