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By 
March 12, 2024 at 02:04 PM
Couplr AI, the fintech firm, announced Tuesday the launch of a tool designed to help financial advisors address the escalating challenge of orphaned accounts in wealth management.
Couplr’s tool aims to deliver a scalable and efficient approach to matching clients who own these accounts with new advisors. The goal of the solution, according to Couplr’s announcement, is to “transform the landscape” for firms and advisors at a time when many clients expect more holistic and interconnected services.
It focuses on orphaned accounts tied to advisors who’ve changed firms or left the industry, for instance. Citing data from Cerulli Associates, the firm warns that orphaned accounts pose significant challenges, including regulatory scrutiny, potential lawsuits and financial losses for wealth management firms.
By providing a path for clients to be reconnected with their assets by working with new advisors, Couplr not only helps firms comply with regulatory expectations but also enhances the overall client experience, the firm says.
Such connections also provide an opportunity for firms to help next-gen advisors grow their business by advising on and potentially rolling over clients’ held-away assets in cases where moving the money makes sense.
