Mellon Acquires DirectAdvice Platform

January 23, 2003 ( - Mellon Financial has acquired certain assets of DirectAdvice, a provider of online financial planning and advice services.

The all-cash deal will marry DirectAdvice’s Web-based financial planning platformwith an array of Mellon Investor Services (MIS) products. 

The DirectAdvice product will be offered through Mellon Investor Services (MIS), a Mellon entity that provides employee benefit products together with shareholder services, securities brokerage and related securities products.

Hartford, Connecticut-based DirectAdvice, founded in 1995, designed its Web-based financial planning platform to complement a corporation’s existing benefits package by providing access to financial products and services that can help employees:

  • manage life events,
  • protect and create wealth,
  • save money,
  • manage their finances and
  • help them achieve a proper work-life balance.