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The fintech company has partnered with Envestnet Yodle to provide a more efficient process for transferring intergenerational wealth.
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HeirWealth partnership to streamline intergenerational wealth management
18 March 2024
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9 minute read
Technology firm HeirWealth has announced a new integration with global financial aggregator Envestnet Yodlee which will provide users with more frequent and detailed data.
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HeirWealth is an application providing investors and their accountants or advisers a view of assets and liabilities across 40 different investment classes.
Following the latest integration with Envestnet Yodlee, the app will now have connectivity to 20,000 financial institutions globally, which can automatically aggregate into the wealth registry platform.
“This integration allows continuous daily asset valuations for banking and investment products which, when fused with our market data feeds, provides our customers with richer platform experiences,” said Ray Tubman, founder and chief executive of HeirWealth.
As a client of global financial aggregator Envestnet | Yodlee, HeirWealth is able to access open banking data under Australia’s consumer data right.
Commenting on the integration, Envestnet Yodlee, director, enterprise business development, Australia and New Zealand, Taner Uzelakcil said he was excited to see “open banking and data aggregation make wealth management easier for Australian families both now and in the future”.
Tubman said the forthcoming integration wealth transfer in Australia will present a lot of challenges to clients and their advisers.
“Whether you want to start having those conversations now, or wait till later, centralising information in one secure location like HeirWealth is a great idea,” he added.
Tubman said the HeirWealth platform provides wealth tracking that allows individuals, families and professional advisers to organise everything together in one place.
“That includes traditional investments like term deposits, shares and property, as well as alternative investments like private equity, and ‘assets of passion’ like fine wine, antiques and collectibles,” he said.
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