Armed with a holistic view of an investor's finances, advisors will be better equipped to provide advice to clients while enhancing their compliance procedures ahead of upcoming DOL regulation
SILICON SLOPES, Utah, Oct. 10, 2016 /PRNewswire/ -- Digital wealth management technology provider Invessence announced today that it has partnered with MX to provide account aggregation capabilities for its client base. Aggregation will enable advisory firms on the Invessence platform to gain a holistic, current view of an investor's financial situation, including both accounts managed by the advisor and non-managed accounts. A lack of visibility around non-managed accounts has long limited the ability to provide sound financial planning and risk assessment.
"Advisory firms are required to understand their client's full financial situation, risk and needs," said Jigar Vyas, CEO of Invessence. "Integrating the account aggregation capabilities of MX with our digital wealth management platform gives advisory firms the ability to see a comprehensive view of their clients' total assets and liabilities across multiple custodians. It will act as an analytical dashboard for investors but also as an oversight tool for advisors."
Ahead of proposed changes in regulation, financial advisors are looking towards technology to better analyze their client's financial situation when they offer guidance around 401(k) plans, retirement accounts and other funds earmarked for retirement. By utilizing aggregation to import non-managed accounts, advisors can better make the case that the financial plan of a client is based on their full financial picture. MX was chosen by Invessence for its reliable, redundant multi-source aggregation, superior transaction cleansing and data visualizations.
"Account aggregation is a crucial capability for advisors in this new environment, absolutely vital to remain in compliance. Invessence understands that you have to make the process quick and reliable," said MX Founder and CEO Ryan Caldwell. "By partnering with MX they've shown their commitment to bringing the best technology and user experience to their clients."
About Invessence, Inc.:
Invessence provides digital wealth management technology (including robo advisory services) that enables asset managers, broker-dealers, and advisors to deliver their investment solutions through a white labeled platform. The flexible technology provides a dynamic user experience for both the advisor and investor by simplifying the entire investing process – client on-boarding, portfolio construction, record keeping, and rebalancing – into a streamlined online solution. Invessence provides services globally. For additional information, visit http://www.Invessence.com.
About MX:
MX is the world leader in unified financial data, enabling financial institutions and fintech providers to collect, refine, and present actionable data that empowers the world to become financially strong. Founded in 2010, MX is the fastest growing fintech provider, partnering with more than 1,000 financial institutions and 35 digital banking providers.
News Media Contacts:
Christopher Lengle
Chief Strategy Officer, Invessence
201-977-2704
[email protected]
Jeff Meredith
MX Public Relations
801-669-5588
[email protected]
Logo - http://photos.prnewswire.com/prnh/20161007/426620LOGO
Logo - http://photos.prnewswire.com/prnh/20150919/268534LOGO
SOURCE MX; Invessence, Inc.
Share this article