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Article: Financial advisers sing the praises of account aggregation services; Despite set-up glitches, most find the technology boosts productivity.(NEWS)
- Article from:
- Investment News
- Article date:
- June 15, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Davis D. Janowski
When introduced about a decade ago, account aggregation was touted as a major adviser solution.
The promise was that it would provide a holistic view of all a client's assets, no matter where they were held, and allow financial advisers to produce comprehensive financial plans.
Early versions were somewhat disappointing, and the typical $1,000-a-year cost of using the technology led many advisers to question its worth. But users of today's account aggregation tools are strong fans, and recommend the tool to other advisers.
"You'll earn [all the business] if you're any good, said LeGrand Redfield, president of ...