![]() While some new solutions roll out, and an occasional blockbuster deal is announced, relatively few new players have arrived on the scene for several years now, and a number of banks have recently announced that they are shutting down their PFM solutions.Ī deeper look, though, reveals that perhaps the biggest blocking point to the growth of PFM solutions – particularly in the financial advisor channel – is that most remain mired in the early days of using account aggregation to simply compile investment performance reports and identify held-away assets. Yet years later, the adoption of account aggregation in the financial services industry remains somewhat lackluster, particularly amongst the largest enterprise buyers like banks and financial advisor broker-dealers. ![]() While the early years of the internet brought a wave of new solutions that made it easier than ever to track one’s investments, it wasn’t until showed up in 2006 that the true potential power of “account aggregation” was revealed, as the company grew to 1.5 million users in just two years and was sold to Intuit for a whopping $170 million.
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