MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, April 20, 2001 Vanguard's Aggregation Wrinkle Vanguard has joined the rush of firms rolling out an aggregation product for its shareholders. Unlike most of its rivals who have partnered with Vertical One's Yodlee (Fidelity, Merrill Lynch, Charles Schwab, JP Morgan Chase, among others), Vanguard has gone with CashEdge to act as the engine behind their service. The service, dubbed Consolidated View, will be initially rolled out to retail investors next month. The firm's 401(k) clients will be offered the service by the end of the year, said a spokesperson. He added that Vanguard had considered all of the major aggregation firms as a part of the search. Like other aggregation tools, Vanguard's products will allow clients to see data from financial accounts across institutions. The firm is stressing the high security of the product it is developing with CashEdge and is making a pledge to never sell the client information that it collects to a third-party. The tool will also feature collaborative surfing, which will allow customer service reps to take control of the shareholder's browser. Vanguard plans to pair the new tool with the investment advice product it is developing with Financial Engines. When the two work together, Financial Engines will be able to consider the shareholders entire financial profile without the shareholder having to rekey all of their data. The Financial Engines product is initially being rolled out to the firm's 401(k) participant clients. A spokesperson for the firm confirmed that it would be expanded to its retail client base by the end of the year. Printed from: MFWire.com/story.asp?s=26692 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |