has created a new product, TrustedNetwork
, that allows financial advisors and their clients to survey their entire financial portfolio through the Internet even if the accounts are held at multiple firms.
The "cross-institutional" view gives financial advisors a consolidated view of a client's portfolio.
, director of product marketing at Advent, said that the product will be sold to financial institutions who will in turn use the product for marketing and as a way to differentiate themselves from similar firms.
"TrustedNetwork is a great differentiater," said Dawson. "Advisors can get an entire overview of a client's full portfolio even if they have a 401(k) floating someplace different than their brokerage account -- to get a full understanding of the portfolio, the advisor needs to be able to see it all."
Participants in TrustedNetwork will include brokerage firms, money managers, financial planners, professional software developers, financial portals, accounting firms and consultants. "When working with a client advisors will have accurate and consistent information so that they can compare apples to apples," Dawson added.
Dawson would not comment on which specific clients had signed up for TrustedNetwork.
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