SOURCE: ByAllAccounts

ByAllAccounts

November 09, 2010 09:00 ET

Frazier Financial Advisors Builds Wealth With ByAllAccounts Account Aggregation

Adding Account Aggregation Increases Value of Client Portfolios and Profits for RIA Firm

BOSTON, MA--(Marketwire - November 9, 2010) -  ByAllAccounts, Inc., the financial advisors' choice for account aggregation, today announced that one of its customers, Frazier Financial Advisors has recently completed its first year using account aggregation, experiencing an increase in account value for aggregated accounts that is more than four times that for non-aggregation accounts. ByAllAccounts' account aggregation benefits Frazier Financial clients because they receive even more holistic investment advice. In addition, the firm has increased its assets under management and profited from its new ability to advise -- and bill -- on aggregated assets that were previously held away.

"The past year or so has been challenging for financial advisors and we're constantly on the lookout for any edge we can get," said Jim Frazier, managing partner for Frazier Financial Advisors LLC. "My advice to fellow advisors is not to discount the immediate and meaningful opportunity that exists to grow your practice using technology such as ByAllAccounts' account aggregation."

Because Frazier Financial is primarily a fee-based advisory firm, increasing total assets under management for each client is crucial to growth. Account aggregation enables each advisor to extend their expertise across more, if not all, of a client's total assets. When this includes 401K assets, for example, the client benefits by having a more holistic picture of their net worth and overall asset performance and advisors can fairly bill on those assets because the client gains measureable value from their advice.

"Assets from retiring baby boomers are now a large portion of the new assets we're bringing in under aggregation," continued Frazier. "Not only does this help investors in the long run, because we're able to actively manage those assets, but also it has been an important boost for our business since increasing the value of an existing client portfolio -- which means more revenue for our firm -- requires much less time and resources than prospecting for new clients."

About ByAllAccounts, Inc.
ByAllAccounts, the financial advisors' choice for account aggregation since 1999, is the only service that retrieves, enriches and consolidates reconciliation-ready account data from any custodian. ByAllAccounts' patented aggregation engine, through which more than $170 billion in assets flows, aggregates all client account data -- from any source -- within an advisor's wealth management platform or trust accounting system for a truly comprehensive view. Thousands of advisors rely on ByAllAccounts to save administrative time and costs, mitigate risk associated with having incomplete information and grow revenues through client referrals and new business development. ByAllAccounts integrates seamlessly with all of the most popular wealth management platforms. For more information, visit www.byallaccounts.com.

Contact Information

  • Media Contacts:
    Jennifer Hrycyszyn
    Greenough Communications
    617.275.6519
    Email Contact

    Cynthia Stephens
    ByAllAccounts
    781.376.0801 x 130
    Email Contact