Amid rising competition, wealth management providers can score with investment insights

Like so many corners of our lives, the digital economy is reshaping the contours of the wealth management industry. Amid an onslaught of competition and one of the largest-ever intergenerational wealth transfers, financial advisors find themselves wooing more tech-savvy investors, who expect more from their financial planning tools than their parents.

For starters, investors today want their financial tools and advice to be tailored to their needs. A 2026 FT Longitude study in partnership with Mastercard found 76% would switch to access digital features that would make managing their finances easier and 70% would do so to obtain more personalized insights for making smarter financial decisions.

They also want advice on how to manage their entire financial portfolio, not just one or two accounts. In a 2025 McKinsey survey of affluent and high-net-worth investors, the share of clients looking for more holistic advice increased from 29% in 2018 to 52% in 2023.

As William Campbell, vice president of open finance product at Mastercard says: “It’s important that managers can access a comprehensive, structured data set to get a more complete picture of their customer to enable deeper personalization and advisory opportunities.” 

Yet financial institutions cannot always get a handle on their consumers’ investment behavior because the average consumer has as many as seven financial accounts. 

Across banks, wealth divisions, independent advisors, fintech investment apps, and financial wellness platforms, many players are focused on a common challenge: using secure, consumer-permissioned access to held‑away investment data to improve visibility, personalization, engagement, and asset growth while reducing manual effort and churn.

Now, wealth management providers can get access to this pertinent information with investment insights powered by Mastercard Open Finance, which can provide data on external wealth held in customers’ brokerage, retirement, and advisory accounts across multiple institutions.

Investment insights can capture data from 19 of the top 20 wealth platforms, representing 99% of the weighted assets under management¹ including retirement and IRA accounts, brokerage accounts, employee stock purchase programs and educational and health savings accounts.

To help their clients understand their financial positions better, wealth managers can offer net-worth dashboards, adjustable asset-allocation tools, and improved investment performance tools. They may also enable more informed decisions via improved risk-exposure warnings, automated diversification suggestions, and smarter advice on topics, such as tax‑loss harvesting.  

That same information can also be used to help wealth managers identify opportunities to offer additional services, such as rollovers, personalized advisory services or product matching. For example, a wealth manager might see that their customer has a large account elsewhere, with assets being managed under a different risk profile, creating an opportunity to capture those funds and manage the entire portfolio.

“Firms can tailor data usage to help meet their strategic goals. Whether that’s focusing on improving the consumer experience or giving their advisors better insights into what services or help their customers might need,” says William Campbell.

Eager as investors are to receive customized financial advice, they are equally aware of the dangers of data breaches. In fact, 84% of wealth customers surveyed by Accenture said they worry about how their data is used.

Mastercard Open Finance shares data based on consumer permission. When a consumer chooses to permission a specific account, they link their external account(s) via Mastercard Open Finance’s secure Data Connect service, which uses an API to pull data, then cleanses, structures, and maps it into a common schema. Account, position, and transaction data may then be updated at defined refresh intervals.

Many other industries have mastered the art of personalization; however, the financial industry has lagged.  Now, armed with secure, customer-permissioned investment data and Mastercard Open Finance, wealth management providers can unlock the power of personalization to help improve their customers’ financial well  being.

To learn more about investment insights with Mastercard Open Finance, visit Investment Insights.