Tech provider Envestnet says that advisors using its portfolio management and performance reporting application, Advisor View, can now add household assets and liabilities information.
“Our integration with Envestnet Yodlee enables advisors to provide their investor clients with a complete financial picture, including assets and liabilities – further strengthening their relationship and the value they provide,” said Stuart DePina, president of Envestnet Tamarac, in a statement.
(Envestnet bought the tech firm Yodlee, an online hub for consumer-finance applications, for about $590 million last year.)
This new feature lets advisors view data for credit cards, investments, loans and mortgages, for instance, in Advisor View, while clients can do the same in the client portal, according to the company.
“By sharing consolidated, holistic wealth assessments through the Advisor View client portal, advisors can engage with clients to make well-informed financial decisions that can lead to better outcomes.”
The new technology, the company says, can bring together and analyze data from over 15,500 sources, such as financial institutions and billers. Also, advisors and clients can enter assets not tracked by Yodlee, such as art collections, into Advisor View.
In addition, advisors can generate net worth reports for themselves and clients.