Powerlytics, a leading provider of alternative data solutions for financial institutions, announced the launch of Family View powered by TrueWealth, a new feature of Powerlytics’ proprietary data platform that gives wealth management firms, banks, and wirehouses visibility into the family and household relationships and their financial profiles of their existing clients, before wealth changes hands.

As the industry braces for the largest generational transfer of wealth in history — an estimated $124 trillion is expected to be passed down to younger generations through the Great Wealth Transfer by 2048 — inheritance will be a pivotal moment for all wealth firms. The Great Wealth Transfer won’t just fundamentally transform who has wealth; it will change where the wealth is invested. According to research from Cerulli Associates, more than 70 percent of heirs are likely to replace their parents’ financial advisor after inheriting wealth. Research from Fidelity has similarly found that advisors have reached out to just 13 percent of their clients’ adult children. For all the information wealth firms have on their clients, the next generation represents a massive blind spot, and one that could prove costly for firms’ growth.

“The biggest risk to a wealth firm isn’t losing a client, it’s losing the assets when that client passes them down,” said Kevin Sheetz, CEO and co-founder of Powerlytics. “Firms know the wealth transfer is coming. What they don’t have is a way to insulate their existing business by knowing who their clients’ heirs, what their financial profiles are, and how to build a relationship with them before the money moves. That’s exactly what Family View solves for.”

Family View, powered by TrueWealth, pairs Powerlytics’ proprietary income and investable-assets data — built on government sources including the IRS and the Federal Reserve, covering 100% of U.S. households — with specialized family mapping to better understand who will be inheriting wealth in the future. The solution enables enterprise institutions to build relationships proactively with the next generation through planning conversations, targeted marketing, and other client acquisition strategies, so that by the time an inheritance comes, beneficiaries trust the firm as a steward of their wealth.

“Every wealth firm has a retention problem it can’t see: the heirs who will inherit their clients’ assets and take them somewhere else. You can’t keep a relationship you were never able to identify. Family View turns that blind spot into a firm’s single biggest growth opportunity – the ability to identify client beneficiaries and their assets before the money moves,” said Matt Reed, Powerlytics Chief Revenue Officer.

Designed as an enterprise solution for large institutions, Family View, powered by TrueWealth, is a new feature that builds on Powerlytics’ existing suite of income and investable-assets data products and provides another way for firms to grow strategically through harnessing alternative, accurate, and actionable data to help firms and their advisors build a scalable, repeatable growth strategy.

Visit the Powerlytics Family View website to learn more. https://www.powerlytics.com/powerlytics-launches-family-view-to-help-retain-next-generation-assets/.

About Powerlytics

Powerlytics is revolutionizing growth strategies for wealth management firms, banks, credit unions, and lenders by delivering accurate and comprehensive data on 100% of U.S. households and businesses. The firm’s proprietary datasets — developed through decades of government consultation, academic research, and commercial operations — integrate information from trusted U.S. government sources like the IRS, Census Bureau, and Department of Labor. Unlike subjective, inaccurate, and incomplete databases, Powerlytics provides frictionless, objective data that drives smarter prospecting, cross-selling, and up-selling, as well as more strategic lending and risk decision-making. Accomplish more with better data at Powerlytics.

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