Wealth Access Now Reports on over $100 Billion; Experiencing Strong Business Results

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Award-wining, innovative client portal and intelligent aggregation platform experiencing fast growth and growing momentum in wealth management

Assets on the platform now total over $100 billion, a 140% increase over the previous year, representing a total of 44,000 end-investor accounts, a 175% annual increase.

Wealth Access, the industry’s largest independent personal financial management and account aggregation platform, announced today the results from the company’s calendar year ended 2017, including the news that the firms’ reported on assets now surpass the $100 billion milestone.

Assets on the platform now total over $100 billion, a 140% increase over the previous year, representing a total of 44,000 end-investor accounts, a 175% annual increase. Wealth Access now serves 215 firms in the broker dealer, bank, trust, RIA and family office channels, an impressive 65% grow rate. These powerful growth statistics are powering Wealth Access’s revenues, which increased 114% during the same time period.

“Investors today are demanding a much more rich and interactive online experience from their financial services provider than they ever have before,” said David Benskin, CEO of Wealth Access. “We call it the ‘Amazon-effect’ and it is transforming how wealth management is being delivered. In order to compete in this new environment, leading advisors and their affiliated organizations are rapidly seeking out best in breed applications and platforms such as Wealth Access to provide that heightened digital client experience.”

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 powerful capabilities of Wealth Access are also garnering industry recognition, including winning two Wealthmanagement.com Industry Awards for Wealth Reporting and Account Aggregation.

Wealth Access continues to invest in the platform and launched numerous new features, products and enhancements in 2017, including:

  • Firm Insight: Business intelligence solution providing top-down information on an organization’s entire book of business. Provides insight into advisor performance, client engagement, and overall firm growth, and grants control over compliance and customization.
  • Mobile: 25 new advisor-branded applications added to the Apple iOS and Google Play stores. Enhancements within the app including fingerprint and facial recognition sign-on capabilities.
  • Integrations: 7 new financial planning, trust and portfolio accounting systems now integrated for more coverage of the FinTech industry.
  • Investments: New functionality added the ability to create custom asset classifications and set portfolio diversification targets.

“We are entering an inflection point for the industry,” said Benskin. “Technology continues to play an ever increasing role in the delivery of financial advice, and leading firms are rapidly moving to enhance their offerings to take advantage of the tremendous opportunities in wealth management. We are truly inspired by these forward looking firms and will continue to invest in Wealth Access to make it even more useful to their advisors and their clients.”

Account aggregation continues to provide powerful benefits to advisors. According to a recent study by Wealth Access, firms deploying aggregation technology experienced an average of $2,000 in increases in revenues per client on an annual basis. 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.

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Timothy Welsh
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