Clients Get Enhanced View of Assets and Net Worth With New PNC Wealth Insight(SM)
Online Tool Addresses Demand for Greater Transparency of Fees, Enhances Collaboration Between PNC Clients and Their Advisors
PITTSBURGH, Sept. 19, 2011 /PRNewswire/ -- Responding to clients' expectations for daily access to financial performance and an aggregated view of their net worth, PNC Wealth Management has introduced PNC Wealth Insight(SM) as a comprehensive online money management resource.
"PNC Wealth Insight is a game changer for wealth management because it is one of the first tools to give a complete, aggregated view of a client's net worth," said Robert Q. Reilly, executive vice president and head of PNC Wealth Management. "We believe this innovative solution provides a level of clarity never seen before in the industry and which clients increasingly demand."
Reilly said a 2010-11 PNC Wealth and Values Survey found that 74 percent of wealthy individuals said they want "greater transparency" from financial institutions, while 77 percent said information and technology integration has helped manage their investments better.
PNC Wealth Insight is a virtual dashboard that displays information in a way that is clear and easy to understand. Clients can review their entire portfolio in seconds, or they can dive much deeper if they want, and they see what advisors see about their accounts, with the goal of enhancing their conversations and relationships.
Organized the Way Clients Think
The development of PNC Wealth Insight was based on the financial mindset of high net worth individuals, making it easy and visual to help them plan their wealth. It is organized into seven tabs:
- Net Worth – Clients' "personal balance sheet." Gives a full view of assets and liabilities at PNC and allows for aggregation of investments with other firms and property if they choose to add them.
- My Folio – Allows for dynamic grouping of accounts the way clients want to see them.
- Income – Instant view of cash in and cash out each month. Shows how deposits and withdrawals affect bottom line. Can compare with past months and years, and estimate income for future months and years.
- Performance – Displays performance across multiple time frames including daily rate of return or percentage gain or loss and may be compared to a benchmark selected by the client.
Other tabs include Brief, which provides an overview of the client's investment picture; Allocation, which compares actual allocation with target allocation and Resources, which provides market news, e-mail access to the client's advisor team, blogs from PNC experts, and a community where clients can have online discussions with other clients.
PNC Wealth Insight is the result of almost three years of research and development, which included the participation of dozens of PNC Wealth Management clients and advisors. The research provided information on their preferences and views of their wealth and investments. The development also included trial phases with clients in Baltimore, Philadelphia and Pittsburgh, and their feedback was used to design many of the advanced features.
Provides Features Clients Want
PNC Wealth Insight includes other features that further enhance the client experience, including:
- Clients can view income being generated and projected through the year.
- PNC has scrapped conventional reporting by introducing dynamic grouping using drag and drop functionality. Information on the screen is displayed the way the client wants to see it.
- The flexibility of PNC Wealth Insight allows clients to customize the content and select features to suit their needs. They can display as little or as much as they want to see.
Using the latest available technologies, including HTML 5, clients can access PNC Wealth Insight via tablets run on Apple or Android systems or on a mobile phone browser. App versions for iPhone and Android will be available in 2012.
An online media kit containing background information, images and broadcast-quality video about Wealth Insight is available on PNC's website at http://www.pnc.com/go/presskits.
The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation's largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. Follow @PNCNews on Twitter for breaking news, updates and announcements from PNC.
SOURCE PNC Financial Services Group
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