March 13, 2020
mywealth by Greenleaf Trust
Welcome to the inaugural issue of mywealth tips, tricks, and tutorials! Greenleaf Trust offers multiple tools to enhance the client experience. Which one are we most excited about? mywealth!
In this issue we’ll take a tour of the mywealth platform and how it plays a role in the management and implementation of your comprehensive wealth management plan.
Simplified & Organized Holistic Wealth Management
Within a single website, you have the ability to connect all of your investment accounts, assets, and liabilities for a comprehensive and holistic picture of your wealth. Through our mywealth holistic wealth planning tool, you can monitor and organize your wealth within a safe and secure online portal, serving as your personal financial website. mywealth offers the following capabilities to assist you in organizing and simplifying your financial life:
Aggregation: A consolidated view of all your accounts and investments (including those outside of Greenleaf Trust such as checking and savings, credentials, etc.) will give you a real-time complete financial picture on any device at any time.
Dashboard: View of all your assets and liabilities on a consolidated basis, updated daily.
Reporting: Develop interactive charts, customized reports, and detailed summaries for all of your holdings.
Spending: Track spending habits and monitor your personal cash flow.
Budgets: Create budgets and keep track of your progress toward your spending goals.
Document Vault: Unlimited access to a secure electronic document storage portal for your private records such as trusts, wills, tax returns, insurance records, birth certificates, and other identification documents.
Alerts: Email and mobile phone alerts to empower you to monitor the activity across all of your accounts.
Website Overview
Your home page is a living snapshot of your financial wellbeing. The home page is a high-level view of your financial information. This page is divided into separate tiles that represent the information contained within each section of the application.
The organizer will help you to consolidate all of your important financial information into one place. Click the different options to add and edit the related information. Here you can add your accounts, financial data, people, and property. The information included here will be used to populate other areas of the tool, including the home page.
The spending tab can give you a clear view of income and expenses each month. If there is no information on this screen, it’s because a bank account or credit card needs to be added to “Accounts” in your organizer. spending includes Overview, Budgets, and Transactions tabs. Spending categories can be made custom to your needs. While this information defaults to private, meaning it is not shared with your client centric team, you also have the ability to share this information so that your client centric team can assist with budgeting if desired.
The investments tab is made up of four components: Summary, Allocation, Analysis, and Transactions. These will provide you with an overall view of your investments as well as the ability to drill into individual accounts & asset breakdowns.
The vault tab is a repository in which files are stored by your team for your review, and where you can store files. To upload a file, click the Upload Files link. The My Documents folder is hidden from your team (as shown below). If you want to share a document with your client centric team, upload it into the shared documents folder.
And lastly, the reports tab provides you with a series of reports about your financial situation. There is a plethora of information that is available to you as a Greenleaf Trust client. These reports range from net worth statements, all the way to investment allocation reports.
Why is Data Aggregation Important?
We use data aggregation to consolidate your accounts into one view on your Personal Financial Website – like your checking account, outside 401(k), and investment account balances — so you can easily monitor your finances, and we can create an accurate financial plan based on real-time data.
Working with your client centric team to populate your personal financial website with accurate data will help them better manage your holistic wealth and implement your plan on a much more comprehensive level.
Questions? As always, simply reach out to any member of your client centric team and we would love to assist with making the most of your personal financial website through by Greenleaf Trust.