Yodlee Launches WealthCenter; Transforms How Financial Institutions Serve Self-Directed Investors And Facilitates Advisor-Client Collaboration
A Proven Strategy to Increase Assets Under Management
REDWOOD CITY, Calif., July 18, 2013 /PRNewswire/ – 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 and greater collaboration with their advisors.”
Real Revenue Opportunity
Case study: using Yodlee WealthCenter, one investment firm identified $2.5 billion in held-away assets and generated $1.25 million in fees in just four months in a pilot initiative.
The Yodlee WealthCenter suite includes expanded access to wealth data and a number of core FinApps, such as Investment Holdings and Net Worth, with many more under development. Advisors can leverage the data from WealthCenter to deepen collaboration with investors to more effectively develop long-term investment strategies based on their suitability, and identify opportunities to increase assets under management from within their existing customer base.
Join Yodlee’s Wealth Webinar on July 24
On July 24, 2013 at 10:00 a.m. PDT / 1:00 p.m. EDT, Yodlee will host a webinar on the driving forces in today’s wealth industry, and how technologies like account aggregation and dynamic new wealth apps are being used to deepen collaboration with investors, and ultimately drive more assets under management. “Scaling Advice & Collaboration to Engage the Affluent” will be hosted by Clientific founder and CEO JP Nicols. More information on the webinar can be found here.
About Yodlee & Yodlee Interactive
Yodlee is the platform for financial innovation. More than 600 companies globally, including 7 of the top 10 US financial institutions, rely on Yodlee to power personalized financial apps and services for millions of consumers, driving retention, engagement, and revenue. Leveraging the industry’s largest data platform, Yodlee also delivers real-time insight into consumer behaviors to create more dynamic interactions – anywhere, anytime, on any device.
Yodlee Interactive is focused on making the Yodlee platform available everywhere that value can be created by entrepreneurs, partners, and developers to build digital financial apps and services. As the architects of a new digital ecosystem, Yodlee Interactive optimizes the wisdom of the financial technology crowd to create, catalyze, and distribute innovations faster through an open and secure data API. Used by hundreds of companies, both small and large, Yodlee Interactive is the horsepower behind today’s coolest and most personalized digital experiences.
Yodlee is headquartered in Redwood City, California. For more information, visit www.yodlee.com.
Caity Doyle, 415-955-8500, firstname.lastname@example.org
SOURCE Yodlee, Inc.