The growing complexity of investing has created challenges for investors and financial advisors alike. Investors face an ever-growing menu of portfolio options, investment strategies and product solutions. At the same time, financial advisors must meet investor demand for more personalized, comprehensive and cohesive advice. For advisors, the way to earn more clients and increase assets under management is to couple goals-driven, client-centric planning, with the ability to support a wide variety of investment strategies and portfolio constructs.
The most effective solution to address the needs of both advisors and clients is through a consolidated technology platform, which aggregates the data from all accounts and investments into a comprehensive view. And, beyond just providing a view into the assets of an individual, the aggregation can extend to include all family members to provide transparency into the client's total household financial picture. This comprehensive process of profiling and planning around total household assets, liabilities, income and expenses is commonly referred to as the unified managed household (UMH).
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