Wealth Access, the industry’s largest independent personal financial management and account aggregation platform, announced today the results of industry research designed to quantify the power of account aggregation.
According to the research study, conducted in partnership with Nexus Strategy, LLC, a leading consulting firm to the wealth management industry, data on the Wealth Access Intelligent Aggregation platform was analyzed in the first quarter of 2017.
Based on 16,000 client inputs, over $4.8 billion in “held away” assets were aggregated through Wealth Access. Of that $4.8 billion, the 130 advisory firms using Wealth Access reported through survey data that they were able to “convert” or bring under their management approximately 65% of those assets, resulting in a total of $3.1 billion in incremental, new assets now under their management.