eWise, a provider of financial data aggregation and money management solutions, has launched a new personal financial management tool, which will enable end-users to add their ‘offline’ physical assets when assessing their wealth online.
The company said passion investors can now track the value and performance of their physical possessions when aggregating their financial data through its client-side account aggregation technology, enabled through the eWise AEGIS platform.
This data is encrypted and stored on an individual’s personal device using eWise’s Personal Data Vault.
A range of physical assets are supported in the latest release of the eWise Aegis platform and Money Manager solution including art, wine, stamps, gold, classic cars and aircraft.
The new feature is being introduced into eWise’s solutions at a time where high returns on passion assets such as fine wine and classic cars are providing increased yield and diversification for many investors.
In the past five years, cars, coins and jewels have returned 161%, 92% and 65% respectively, eclipsing Britain’s FTSE-100 stock index up 15% since the start of 2011.
David Hamilton CEO of eWise said: “When interest rates are low and when the price of physical assets are rising it’s important for customers to get a holistic view of their wealth. Online investments often only produce half the picture, particularly when markets are soft. It’s important to see what you own in physical assets alongside what you have in online investments, in order to make truly informed financial decisions.”
Last year many of the world’s top 200 art collectors came from China and Brazil. Chinese artefacts such as porcelain, are increasingly being bought by Chinese collectors who provide a sizeable pool of wealth to support the market. Asian investors also are taking advantage of a weaker pound post Brexit decision, snapping up property in the UK, with at least eight major Chinese investments in UK property since the June referendum.
eWise head of product Dean Young said: “By allowing end-users to track the performance of their physical assets in addition to their online assets through our Aegis platform and Money Manager solution, we provide a more complete picture of their overall wealth and asset performance.”