How Account Aggregation Can Save Your Business Time and Money  

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Account aggregation, or financial data aggregation, is the compiling of information from a variety of accounts into one place. Any consumer or business account may be aggregated: bank accounts, credit card accounts, investment accounts, and others. It is useful because it provides the user a complete picture of their financial assets. Account aggregation was born in the 1990’s. Banks began creating internet banking applications, which opened the door for account aggregation. The first account aggregation software helped individuals manage their own money simply. Products such as Microsoft Money and Quicken provided simple interfaces that allowed users to easily access financial data from their various accounts, and analyze their total financial health.

Account aggregation providers allow financial advisors to gain a competitive edge by permitting advisors to see their clients’ held-away and non-managed accounts. Account aggregators provide historical transaction data to financial advisors that is normalized and reconciliation ready. Financial advisors can aggregate not just bank accounts, credit card accounts, and investment accounts, but also information on other net-worth data, such as recent home-value estimates. With so much competition, the advantage of account aggregation is necessary to succeed in the financial services market.

Aqumulate is an account aggregation provider for financial advisors that saves advisors time and money, while increasing the value of their services. Adding Aqumulate to your practice’s toolbox will differentiate you from other advisors and provide an edge over the competition by making your practice more efficient and providing real-time, detailed transaction history from all client accounts, giving you a detailed view of their entire financial portfolio and providing the information you need to advise in the best possible way. By automating data collection, Aqumulate’s account aggregation enhances the value of your advice, and simplifies work for you and your staff by consolidating all accounts into a single feed. This will enhance client satisfaction and allow you to capture new assets.

Aqumulate is the gold standard of account aggregation. Aqumulate:

  • Captures balance, position, and transaction level detail from over 11,000 financial websites;

  • Comes with a sleek and easy-to-use web-based dashboard for you and your clients;

  • Seamlessly integrates with the most widely used 3rd party technology platforms, including:

  • Schwab Portfolio Center,

  • Redtail CRM,

  • Junxure,

  • Morningstar Office,

  • MoneyGuide Pro.

Aqumulate’s ViewNow feature saves your firm and your clients time by permitting an online account portal, eliminating the need to export data into third party software. ViewNow provides comprehensive data of clients’ balances, positions, and detailed transaction information, facilitating better wealth management services.

Aqumulate’s XportNow feature makes your firm more efficient by eliminating the need to gather paper statements and access multiple financial websites to collect detailed account information on non-managed accounts. XportNow allows you to automate the collection and entry of this account information into CRM, Financial Planning, Risk Alignment, Excel, and other systems. With XportNow, you select which clients and accounts to export, and you set the export parameters. Once set, Aqumulate does the rest, freeing you and your staff to provide better service to more clients.

Aqumulate’s ReconcileNow employs enhanced traditional data harvesting to simplify day-to-day account reconciliation. ReconcileNow allows you to scale your asset management capabilities, maintain a higher level of data integrity, increase office productivity, and gain better visibility into a clients’ total financial picture. ReconcileNow includes transaction mapping, custom translation, exports and data files, and security management.

Account aggregation providers can save you time and money by allowing access to data from a variety of accounts in one simple feed. They do not permit you to make transactions from the aggregator. Transactions must still be made from each account independently. Account aggregation providers, such as Aqumulate, utilize many advanced security features to protect users and their data.

John LucianoComment