Viewing a client’s total wealth picture has not always been easy. A recent survey determined that 95% of wealth managers said their clients ask for advice on held-away assets. However, ONLY 22% reported having access to their clients’ complete financial picture.

This is where First Rate’s Data Aggregation as a Service (DAAS) comes in! DAAS consolidates data from any source, including alternative assets and held-away accounts, and delivers it into reporting, trust accounting, or portfolio management systems.

Here are four reasons an automated data aggregation solution is win-win for you and your clients.

Holistic View

Without the total wealth picture, it can be difficult for you to analyze risk, allocate investments properly, and ultimately provide strategic advice. Data aggregation technology puts all the data you need at your fingertips, allowing you to improve your core business operations such as portfolio construction and monitoring, financial advice, asset allocation, risk management, and fee capture.

Grow and Scale Book of Business

The ability to process data faster allows you to help accelerate your clients’ journeys to reaching their investment goals.

Mitigate Risk and Ensure Data Accuracy

Wealth management firms pull data from various sources, including structured and unstructured data, which is time-consuming and puts your data at high risk for errors. Automating the data aggregation process ensures consistency, simplifies feeds, and can detect anomalies. You save the day by building trust with clients while creating a more efficient and secure method for your back office.

Enhance Personalization

The unrestricted view of client investments and assets allows you to create a personalized experience resulting in higher performance rates. The full scope of data enables you to respond to market changes and volatility faster. Ultimately, it is your responsibility to care about your clients and help them achieve positive results and their personal goals. This becomes difficult to execute if you don’t have a bird’s eye view of their total investments.

Data aggregation is your power tool to create more intelligent and successful investment strategies for managing your clients’ total portfolio.

At First Rate, we believe the proof is in the data. With more than 30 years of experience in aggregating data, a 99% data accuracy rate, and the ability to process documents in under 27 seconds, we are committed to data integrity with our simple process of extraction, normalization, exceptions handling, analyzation, and integration.

Contact us today to learn how our powerful and innovative data aggregation tool can help you!