Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology, today announced that Aite Group, LLC, a leading independent research and advisory firm, has selected AdviceAmericaâs AdvisorVision(TM) wealth management platform as one of the best solutions for new financial advisors and âPlanning-Challengedâ advisors. The September report, âEvaluating Wealth Management Platforms: Financial Planning at the Coreâ reviewed 11 financial planning solutions and recommends the solution from AdviceAmerica, now part of Fiserv, because of its usability and reporting capabilities, as well as its integrated and efficient workflow.
AdvisorVisionâs strengths, as identified by Aite Group and customers, are:
- Ability to engage in complex customization work
- Extensive account aggregation capabilities
- Established self-service delivery capabilities.
The solution was compared with similar financial planning products that possess wealth management capabilities, including portfolio construction and monitoring.
âAdvisorVision is a great fit for advisors who have had adoption challenges in the past because it is easy to use and well organized for advisors who are looking to expand their advice business,â said Sophie Schmitt, senior analyst at Aite Group and author of the report. âWe were impressed by the productâs ability to help advisors deliver ongoing financial planning through integration with customer relationship management and portfolio monitoring tools.â
The report uses information from a June report by the Aite Group that identified five unique segments of financial advisors: planning-driven, planning-supported, planning-selective, planning-challenged and investment-focused. These were identified based on an advisors focus and adoption of financial planning. Planning-Challenged advisors made up nearly a quarter of the financial advisors surveyed for the report. These individuals deliver plans to less than half of their customers but view planning as equally important a process as investment management.
âDuring the current economic crisis, the need for financial advice has become even more critical to investors and advisors,â said Cheryl Nash, senior vice president, Investment Services. âWe are honored that Aite has recommended our solution to help advisors manage their relationships with clients. Our scalable, end-to-end advisor platform is designed to be easy to use for all advisor types, and is ideal for companies who wish to build out their advice capabilities. This approach has been of particular value of late, as we have seen increased interest from independent planners, broker dealers and large insurance companies. We are committed to providing advisors the technology they need to succeed in what remains a challenging market.â