Couplr AI Launches Tool for Finding 'Orphaned' Accounts

Couplr AI, the fintech firm, announced Tuesday the launch of a tool designed to help advisors address the escalating challenge of orphaned accounts in wealth management.

Couplr’s tool aims to deliver a scalable and efficient approach for advisors to locate and help oversee clients’ and prospects’ held-away assets. The goal of the solution, according to Couplr’s announcement, is to “transform the landscape” for firms and advisors at a time when many clients expect more holistic and interconnected services.

So-called orphaned accounts emerge when clients become incapacitated, pass away or lose contact with their financial advisors. Citing data from Cerulli Associates, the firm warns that orphaned accounts pose significant challenges, including regulatory scrutiny, potential lawsuits and financial losses for wealth management firms.

By providing a path for reconnection, Couplr not only helps firms comply with regulatory expectations but also enhances the overall client experience, the firm says.

Such connections also provide an opportunity for firms to help next-gen advisors grow their business by advising on and potentially rolling over clients’ held-away assets in cases where moving the money makes sense.