By Tim Clark, Wall Street & Technology
In an effort to bolster its wealth reporting capabilities, Securities America has armed its 1,800 financial advisors with WealthMonitor, a web-based application designed by Albridge Solutions. This recent deal signifies the growing need for wealth management providers to deliver more focused attention to their High Net Worth Individual clients.WealthMonitor provides Securities America's financial advisors with the ability to generate on demand, personalized performance reports on client accounts, and access to a consolidated view of their clients' net worth. "This is a capability that select few financial advisors across the industry can offer today," said Dennis King, vice president, business development, Securities America, from this press release.
Consolidated performance reports, similar to the ones WealthMonitor can generate, is a key challenge highlighted in the 2006 Merrill Lynch Capgemini World Wealth Report.
"As globalization intensifies, wealth management providers will need to adapt to these new needs and establish an efficient global platform, requiring investments in technology solutions to ensure providers have the tools and support to service clients without increasing the administrative burden," said the World Wealth Report.