Perceptions tend to linger, even when the facts have moved on. Since its founding in 1999, ByAllAccounts, a part of Morningstar Wealth, has become a trusted name in financial data aggregation, helping wealth managers access the information they need to deliver proactive, informed advice.
Its strong reputation stems from tackling one of the toughest challenges in finance — connecting to complex, often fragmented data sources such as trusts, annuities, and private banks. While some may still associate ByAllAccounts with “screen scraping”, the company’s capabilities have evolved far beyond that early perception.
A unified data network for modern wealth
The firm is designed to reduce the friction of aggregating financial data. ByAllAccounts offers a single, scalable network that supports both advisor-managed custodial accounts and client held-away assets.
Its proprietary data infrastructure processes close to $1tn in assets daily, serving as the backbone for over 60 wealth platforms, from established enterprises to fast-growing challengers.
These firms rely on ByAllAccounts to power critical use cases such as performance reporting, financial planning, compliance, data delivery into portals, and AI-driven insights. Because the company owns its network end-to-end, it can tailor data and delivery models to specific client requirements.
Three ways ByAllAccounts stands out
Direct feeds that scale: ByAllAccounts has invested heavily in expanding its custodial network, introducing its Direct Feed Bundle with approximately 200 ready-to-use custodial data feeds.
These include connections to the top 25 custodians and 50 broker dealers. The bundle supports simplified onboarding, rebalancing and tax optimisation, and better cost efficiency than building feeds in-house.
Unlike competitors who typically focus on just three major custodians, ByAllAccounts goes broader and deeper, with a dedicated operations team capable of launching new feeds within four to six weeks.
Open banking, optimised for wealth: The firm has embraced open banking to enable secure, token-based access to client data. However, open banking data often lacks the granularity required for wealth management.
To bridge this gap, ByAllAccounts collaborates directly with financial institutions to co-develop APIs that include transaction-level detail, permissions, and structured account data — ensuring the information is immediately usable for advisors and platforms.
Screen scraping where it still matters: While open banking and direct feeds dominate today’s market, certain high-value data sources remain accessible only via screen scraping.
ByAllAccounts continues to support over 1,200 trusts and private banks, 1,400 retirement providers, 150 annuity platforms, and 100 529 plans. These capabilities are particularly critical for serving high-net-worth and ultra-high-net-worth clients.
Building for the future
Looking ahead, ByAllAccounts aims to drive data portability across the WealthTech ecosystem, empowering firms to migrate data seamlessly and avoid vendor lock-in. Its vision includes empowering modern platforms to scale faster and collaborating with clients to evolve data tools that support growth.
The company is also investing in AI-driven monitoring systems to maintain and repair data connections more efficiently, reducing downtime and improving reliability.
Read the full blog from ByAllAccounts here.
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