Tag Archives: Aggregation

Webinar to Discuss Risks of Custody and Client Credentials

An increasing number of advisers have asked me about using client login credentials to obtain price, transaction, and balance information for assets held in captive accounts (e.g. a client’s active 401(k) plan that cannot be rolled over until termination from service).

As a benefit to clients, advisers are using client credentials to log in to captive accounts to copy the asset information into portfolio management software (such as PortfolioCenter, Advent, or dbCAMS).

This allows the adviser to generate a consolidated report for the client featuring all of his/her assets.  In addition, advisers can include the captive account assets in fee calculations if management of those assets is included in the asset advisory agreement with the client.

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Get the Financial Planning 2008 Software Survey

Financial Planning magazine conducts an annual survey of its readers to gauge the different types of technology in use by financial planners and advisers.  2008 marks the second year of the survey, and Joel P. Bruckenstein published an overview of the results and a comparison to last year’s survey information.

Click here to view Bruckenstein’s review of Financial Planning’s 2008 Software Survey.

Here’s my 30-second take if you don’t have time to read the entire review:

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Mint.com Adds Investment Tracking

Mint!Lifehacker.com recently announced Mint.com has added investment tracking to its list of features.  A highly requested and attractive feature, investment tracking should dramatically increase this service provider’s already rapid adoption in the market.

Mint.com is a free online personal finance management application that users can configure to track expenses by aggregating transactions from checking, savings, and credit card accounts.  Now that investment accounts have been added, Mint.com is getting closer to a complete personal finance product to compete with the likes of computer-based (as opposed to web-based) Quicken and Microsoft Money.  Note that Quicken does have an ASP-based product of Quicken Online, free for 30 days, then $2.99/month thereafter.

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