Financial planning and account aggregation provider eMoney Advisor held its annual user conference this week, during which it announced the availability of eMoney Aggregation as a standalone product.
The company has conditional client account aggregation for advisors using the product, but as an integrated part of its larger financial planning platform.
According to the firm, its aggregation platform provides data connections to more than 12,000 sources, with 90% of those sources relying on secure, direct API connections to data providers, including banks and other financial institutions ( rather than screen scraping, which relies on the client's credentials).
eMoney reports that it has also improved its settlement process, with service tickets falling by 70% over the past five years.
Broken feeds and incorrect or inconsistent data have long been complaints and headaches for advisory firms using account aggregation services, regardless of provider.
In its announcement, the company cited increased demand from enterprise customers for a standalone aggregation product as at least part of the rationale for the new offering.
As of press time, the standalone aggregation product had not been added to the main product pages of the eMoney website. However, the company offered one dedicated page with more information where firms can request more information or a consultation.
Intelliflo redblack introduces wash sales discovery
Advisory technology provider intelliflo this week announced the launch of a new wash sale detection capability within its red black rebalancer.
This extension allows linking of accounts, including separately managed accounts between family members, to alert you to potential wash sales before they happen. These capabilities are designed to help financial advisors ensure compliance with IRS wash sale rules while also optimizing tax management.
Using technology, advisors can now automatically check for potential wash sales at the position or trade level when performing portfolio rebalancing.
Counselors will remember that intelliflo, owned by Invesco, is the umbrella organization of the firm's financial advicewhich includes advisor-focused companies formerly known as Jemstep, Portfolio Pathway, Intelliflo UK and i4C (which have all rebranded as intelliflo), as well as red and black. It was formed in early 2021 and supports more than 30,000 financial advisors in the US, UK and Australia.