Apr 21, 2016

Wealth Director: Enhancing the Client Experience

At First Pacific Financial, our clients have access to our financial planning and account aggregation software Wealth Director. Wealth Director is a powerful tool that allows for interactive financial planning between advisors and clients. One of the most common frustrations many people have is the inability to see all of their various accounts from different institutions in one place. Wealth Director solves this problem.

Not only can clients view their investments that are managed here at First Pacific, but they can add their various bank accounts using “connections” that allow Wealth Director to receive real time updates on account balances. To set up a connection, all that is needed is an online login to the institution. The majority of the major financial institutions are able to be connected as well as most of the smaller local credit unions. If there is a connection that is not currently available, we can work on getting the connection established. Once a client’s accounts are connected, Wealth Director is able to track live balances and give a total picture of their net worth.

Additional features that become available once accounts are connected are the Spending Tab and the Budget Tab. These tools are able to track and categorize spending on credit and debit cards. By using these tools, one can see exactly how much they are actually spending at the gas pump, on groceries, etc. After seeing exactly where their money is being spent, a client can create a budget that is tailored to their monthly spending habits by category (utility bills, restaurants, entertainment, etc.). The progress of each category is tracked and it is easy to see if you are on pace with your budget, or if you need to eat ramen noodles for the remainder of the month!

We are happy to provide Wealth Director and all of its offerings to each of our clients as an added value to our service. We will continue to highlight other Wealth Director features in future blog articles.