Compubank has widened to three the list of its partners that cobrand its online banking services, adding H.D. Vest Inc.
The Houston-based Internet bank last week began offering, to customers of H.D. Vest's financial planning services, certificates of deposit and savings and money market accounts that integrate with Vest's bookkeeping and tax preparation software.
The agreement furthers Compubank's goal of helping financial and nonfinancial companies get into online banking. GE Financial Network and Electric.com, the Internet arm of Tustin, Calif.-based Commonwealth Energy Corp., have similar arrangements with Compubank.
Irving, Tex.-based H.D. Vest, founded in 1983, has 900,000 account holders. It offers free online tax preparation and electronic tax-return filing. Last year it prepared 270,000 tax returns online, the second-biggest volume in the country after Intuit Inc. and its Quicken TurboTax program.
Vest's nationwide network of 7,000 tax professionals prepared three million paper tax returns.
Last week Vest introduced personalized.
Web pages for its 320,000 online customers. "These Web pages are designed to help our clients plan their financial affairs and to execute" them, said Herb Vest, chairman and chief executive officer.
The company's representatives are to assist clients in planning and monitoring their pages.
Besides online banking, H.D. Vest's revamped Web site is offering discount brokerage services through National Financial Correspondent Services, a subsidiary of Fidelity Investments; credit cards from MBNA Corp.; and auto, home, life, health, and disability insurance from several providers.
"The site is very educational and is designed to teach the consumer about the needs they have," Mr. Vest said. "We're offering our customers a total financial planning solution."
In November, H.D. Vest plans to introduce account aggregation in partnership with Yodlee. "This will allow our customers to bring all their financial accounts - including banking, brokerage, and insurance - to one place and compare them with their plans," Mr. Vest said. "I believe all Americans want to have all their financial affairs in one place."
