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Wealth Access Experiencing Rapid Growth and Momentum in Wealth Management Industry

Submitted by Technology Tools for Today on July 8th, 2014


Innovative high net worth Personal Financial Manager for advisors now reporting on $7 billion, adding $600 million per month

Wealth Access, an innovative high net worth personal financial management platform for advisors, announced today several milestones that represent fast growth and adoption of its industry leading technology.  In only its third year, Wealth Access now reports on $7 billion, adding an additional $600 million per month, up from $250 million per month in 2013.

“The demand from advisors for new technology solutions to better serve their existing high net worth clients as well as to tap into the massive next generation of investors is growing dramatically,” said David Benskin, CEO and Founder of Wealth Access. “As a result, we are seeing fast adoption of Wealth Access by many of the leading firms in the industry.”

According to Schwab Advisor Services, there is a $3.5 Trillion opportunity for advisors to target the next generation of investors who already control impressive assets and are positioned to inherit an even larger pool from their parents. The sticking point for advisors, however, is that these next generation investors are looking for a different approach than what advisors have traditionally provided.

“Next generation investors bring a different mindset and expectation to wealth management that has multiple technology touch points,” said Benskin. “Wealth Access, with its aggregation capabilities, multi-generational wealth views and collaboration platform can be the ideal solution for advisors looking to better serve their HNW clients and help them educate their children as to what they own, where their wealth is located, and how it all works together in one easy to understand view.”

Wealth Access provides an integrated technology platform that many industry experts are calling, ”A high net worth, Mint.com for advisors.” Through its easy to understand interface, advanced aggregation capabilities, including managing over 20,000 data feeds from virtually every financial institution, along with additional advanced reporting capabilities, Wealth Access provides an innovative and user-friendly way for advisors to provide their clients with a holistic view of all of their assets and liabilities, in one place, that is optimized for all mobile devices.

Advisors are able to leverage Wealth Access’ dashboards and multi-generational wealth views to roll up client information, better manage their relationships, as well as track money movements and opportunities for rebalancing. Collaboration with clients’ other professionals, such as their accountant and attorney, is facilitated through advanced secure, sharing capabilities, positioning advisors as the quarterback of their client’s financial lives.

Wealth Access’s momentum and success is translating into wide adoption by many of the top financial advisory firms in the industry:

“Our professional team views Wealth Access as a critical component of our enhanced client-centric service offering,” said John Vaccaro, CEO of Westport Resources, one of Baron’s Top 100 Financial Advisors. “We strive for as much transparency as possible with our clients so we can make better financial planning and asset investment decisions along with them.”

“We are committed to integrating leading edge technology with practical solutions for our clients,” said Mike Ethridge, CEO of Canterbury Consulting, the number one ranked RIA by Forbes in their Top 50 Wealth Managers.  “Wealth Access’s consolidated view is an excellent example of that.”

“The process of consolidated reporting has been around the industry for a long time,” said Ann Haas, Managing Director at the Trust Company of Sterne Agee.  “However, the value that Wealth Access brings to this space is the intuitive and collaborative nature of how they present the data for our clients and advisors.”

“Wealth Access plays an important role to help keep me, my clients and their financial planning data on the same page,” said Russ Thornton, a Women’s Choice Award winning advisor with Wealthcare Capital Management. 

“We are extremely grateful for the amazing reception we have received from the industry in such a short time,” said Benskin.  “Our rapid growth has enabled us to grow our team to 17 of the top technologists, developers, analysts, CFAs, CFPs and CPAs in the industry, up from just 2 of us a couple of years ago. “

“We look forward to continuing to enhance the platform and becoming an active thought leader in the industry on how advisors can better serve their clients, tap into new markets and efficiently grow their businesses.

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 from Black Diamond Performance Reporting, Investment Scorecard, Square, Cultivation Capital, Cap Gemini and other notable wealth management technology platforms.  For more information, please log on to www.wealthaccess.com.

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