What to Look for in an Account Aggregation Partner for Wealth Management

Aggregated financial data delivers a variety of benefits for wealth management, especially the potential for greater investment insights, increasing assets under management, and improving back-office efficiencies. But not all aggregators are created equal. Most can’t accommodate the complex needs of investment use cases.

To find the right fit, consider these key factors:

• Comprehensive Data Sources - Ensure the aggregator's solution seamlessly integrates with your varied data needs, offering high-quality data crucial for complex investment activities like reconciliation and risk analysis.
• Expanded Data Reach - Seek an aggregator with extensive coverage beyond major institutions, tapping into the long-tail of investment data sources, including retirement plans and 401(k) recordkeepers.
• Effective Data Enrichment - Look for a vendor experienced in enriching complex investment data, ensuring accuracy and completeness necessary for critical decision-making processes.
• Data Interoperability - Ensure the aggregator offers interoperable data, enabling effortless sharing of insights across tasks like financial wellness analyses and performance reporting, catering to varied user types such as back-office analysts, advisors, and investors.
• Reliability and Scalability - Assess uptime reliability and the vendor's commitment to continuous, live data connections, along with scalability aligned with your business growth.

Choosing an aggregator that understands your market segment, and demonstrates expertise is crucial for leveraging investment data effectively and serving your clients.