Advisor360°, a new stand-alone technology company owned by Waltham, Mass.-based Commonwealth Financial Network, has entered into a licensing agreement with Massachusetts Mutual Life Insurance Co.. The agreement will make the Advisor360° suite of software tools available to Mass Mutual’s advisors and field partners.
The Advisor360° suite comprises Client360°, which integrates portfolio, trade, contact, document, and wealth management in a single platform, giving financial advisors an interactive view of each client’s financial life; Practice360°, which delivers a single dashboard for practice-wide operations, workflow, and analytics; and Investor360°, which clients can use to see their complete financial picture.
Wayne Bloom, Commonwealth CEO, said that the agreement with Springfield, Mass.-based MassMutual would enable the company to accelerate the pace of Commonwealth’s software development.
While the licensing agreement provides for the sharing of Commonwealth’s software, its competitor, MassMutual, will not have access to Commonwealth’s high-touch IT HelpDesk or its other employee-supported investment services.