Wealth management has become increasingly complex for advisors who often juggle up to a dozen different software systems at once. This fragmented setup creates inefficiencies, with customer data spread across disconnected platforms, leading to errors and missed opportunities.
The result is a heavy burden for both clients and advisors, where incomplete or inconsistent financial data limits decision-making and hinders personalised advice.
fincite, which develops software to revolutionise investment advice, explored five ways firms can historically prepare clients’ liquid and illiquid assets.
Asset aggregation is emerging as a vital solution to this challenge, offering a way to consolidate financial information into a single, reliable overview. This not only builds trust with clients but also helps wealth managers deliver more effective, long-term advisory services. Fincite has stepped into this space with its SaaS platform, fincite • cios, designed to provide maximum flexibility in aggregating assets from multiple sources.
The platform supports five distinct integration options. The first is a direct interface with banks or custodial institutions, ensuring high-quality, seamless data transmission. Advisors can also opt for trusted AISP partners like fino, Qwist, and wealthAPI, which provide simple, click-based account integrations.
Fincite • cios extends its reach further by working with GOIO Data GmbH, which standardises bank billing documents, converting them into uniform data records suitable for direct system integration. This allows asset managers and family offices to access a broader cross-bank perspective.
To ensure inclusivity and flexibility, fincite • cios also supports manual data entry. From properties and jewellery to digital assets and ETFs, advisors can input both liquid and illiquid assets directly.
Alternatively, clients can download their financial data as CSV files and upload them to the platform, providing yet another streamlined method of consolidation.
As Friedhelm A. Schmitt, founder & co-CEO of fincite, put it: “Customer data is often distributed across multiple platforms and often trapped in silos. With fincite • cios, you solve this problem with just one click!”
The platform does more than consolidate data. By enabling 360° asset overviews, fincite • cios equips advisors with a unified view of assets and liabilities. Automated valuation services from providers such as PriceHubble or Sprengnetter are already integrated, and the company is expanding this functionality to cover more asset classes including insurance and collectibles.
For more, read the full story here.
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