Cetera advisors looking for a holistic view of their clients’ finances may soon see that wish granted thanks to a new technology partnership.
The broker-dealer giant has just unveiled a partnership with Wealth Access, an enterprise fintech provider that specializes in unifying and enriching data from across multiple sources to let financial institutions deliver hyper-personalized experiences to their clients.
“The industry has long needed an efficient solution to gather data from a client's financial portfolio and have it in one place," David Benskin, founder and CEO of Wealth Access, said in a statement. "I am proud to say it now exists.”
As client demands for comprehensive wealth advice and digital services continue to grow, personalization has emerged as a theme to watch. Tech providers have taken notice, with notable names like Riskalyze and AssetMark taking cracks at solving the problem for advisors looking to stand apart with tailored services.
While fintech firms have certainly made great strides over the years, a truly all-seeing real-time data solution may remain that metaphorical Holy Grail for the foreseeable future.
Cetera said Wealth Access's capabilities will give its financial professionals and institutions the ability to access the most up-to-date and complete financial data possible for their clients from across several areas including brokerage, trust and digital banking.
“We are excited to partner with an industry leader who embraces the importance of empowering financial institutions and advisors to serve their clients most efficiently and effectively,” said LeAnn Rummel, CEO and president of Cetera Investment Services.
“Cetera is proud to consistently lead the industry in providing technology solutions that deliver efficiency for both advisors and clients,” said Cetera Holdings CEO Mike Durbin.
Cetera is rolling out its partnership with Wealth Access the same week it announced another industry first for its affiliated firms and advisors.
Under its new growth guarantee, Cetera is promising firms and advisors joining its GrowthLine program that they’ll see at least 38% faster growth in their assets under administration, or they’ll get back the affiliation fees they paid.
“We are committed and confident in Cetera’s ability to help advisors grow their business faster than they would anywhere else in the industry,” Cetera CEO Adam Antoniades said in a statement announcing the guarantee.
The latest arrivals, including a 10-advisor ensemble from Ameriprise, bolster the firm's independent contractor and employee advisor channels.
The firm has also appointed Mike Downing and Sean Brennan as co-presidents to its US operations as it looks to proceed with an ambitious five-year growth plan.
Meanwhile, Kestra partner Coastline Wealth Management passes a milestone in its geographic expansion with a former Ameriprise team in New York.
New research also reveals that one third of HSA holders withdrew more than they put in.
Blue Anchor Capital Management and Pickett also purchased "highly aggressive and volatile" securities, according to the order.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
