By Nicole Casperson
Originally published by InvestmentNews
Turnkey asset management platform and adviser technology giant Envestnet announced Wednesday it is rolling out a new product, Insight Solutions, designed to give advisers a closer look into clients’ spending habits via its data aggregator Yodlee.
As volatile markets and the uncertainty around the COVID-19 pandemic have put pressure on consumer finances, there is an opportunity for advisers to prove the value of their advice to clients by having a more granular view of spending habits which, in turn, would enable advisers to communicate a more personalized financial plan, according to Brandon Rembe, head of product at Envestnet Yodlee.
According to a study by Cerulli Associates, investors are seeking an adviser who provides more transparency, reassurance and tailored guidance as a result of the pandemic.
In fact, 56% of investor households rank transparency in interactions as extremely important when choosing an adviser, according to the study. “An advisor’s bedside manner can make or break the adviser-investor relationship during turbulent times,” according to Marina Shtyrkov, senior analyst at Cerulli.
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