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Seeing the Big Picture

The benefits of keeping all your financial pieces in view

As our lives grow more complicated, it becomes harder and harder to get a grasp on your financial health. Your bank account is in one place, while your securities are held in another, your mortgage in yet another, and so on.

With all your data in different places, it can be a challenge to keep everything coordinated as you try to achieve your financial goals. Disparate parts of your financial life are often intertwined with each other. Let’s say you have the following pieces in motion:

  • Your 401(k) is custodied by your company’s plan administrator.

  • You’re also saving and investing towards your dream retirement which includes travel, philanthropy and funding the grandkids’ education.

  • You’re also considering purchasing a vacation home.

It would be hard enough to coordinate all these moving pieces, but on top of that, your 401(k) is with one financial institution, your investment accounts with another one, and your mortgage is being held by a third.

To meet the financial goals, needs, wants and wishes you’ve set out for yourself, all these pieces need to be working in coordination with each other. That’s a role that your Baird Financial Advisor generally fills, but new tools such as 360 Wealth have made it easier for you to keep an eye on the big picture yourself, as well. The data on 360 Wealth not only supports your financial planning efforts but can help your Baird Advisor streamline your plans and wealth management discussions.

The chief concern that most individuals have with a single resource containing all their financial information is security. Before you entrust anyone with access to your accounts, make sure they’re following the most rigorous security protocols.

With 360 Wealth, for instance, your credentials are always encrypted from the time we receive them until we present them to the other financial institutions. All access and activity is controlled, logged, and monitored by a 24x7 Security Operations Center, which can detect any attempt to bypass our security program. The access is read-only, meaning that your data can be read but no transactions or updates can be made through this service. For more on the security protections you can expect, click here.

With that type of secure communication in place, 360 Wealth links both your Baird and your non-Baird accounts. With 360 Wealth, you can then view a comprehensive Net Worth Statement, track changes in your portfolio, and manage and view your current month budget, spending and cash flow.

No matter which system you use, keeping a holistic view of all your assets and financial data is critical to achieving your financial goals. For more on this, and on how 360 Wealth can help you keep all your accounts working together, see this video on 360 Wealth or talk to your Baird Financial Advisor team.