Commonwealth Financial Network®Announces Upgraded Account Aggregation Feature
Data Aggregator Quovo to Fuel Feature Enhancement
Waltham, MA (September 5, 2017)—Commonwealth Financial Network® announces it has completed its upgrade of the Account Aggregation feature within Investor360°®, the firm’s client portal. These enhancements will provide clients of affiliated advisors with an efficient way to view all of their accounts, including those held at other institutions.
In partnership with data aggregation innovator Quovo, the improved user experience for both advisors and clients will include:
- More reliable connections between Investor360° and outside accounts
- New functionality, allowing clients to manually enter their assets, improving advisor scale and efficiency
- Faster turnaround times when adding links to new institutions where accounts are held
- A new “prepare account” feature, which allows advisors to preload specific institutions for clients to add credentials, streamlining the client setup process
- The ability to customize the names of linked accounts for a more intuitive, personalized client experience
“Clients want to see their complete financial life in one place,” said Darren Tedesco, managing principal, innovation and strategy, at Commonwealth. “Investor360° provides that information—updated daily—for both advisor-managed and held-away assets, along with performance data, a document vault and paperless statements, and secured messaging via the advisor’s website or smartphone app.”
Lowell Putnam, cofounder and CEO of Quovo, added, “Given Commonwealth’s reputation for deploying top-tier technology, we are excited to have been selected as its new account aggregation partner. Commonwealth has a deep understanding of just how important account aggregation is for the advisor-client relationship, and we look forward to maintaining a close partnership built around a common goal—helping Commonwealth-affiliated advisors sustain the highest level of connectivity to their clients and enabling clients to ultimately achieve their financial goals.”
Tedesco concluded, “When Commonwealth first rolled out account aggregation in 2007 to advisors and their clients, we knew that the future of planning would require advisors to know their clients’ holistic financial situation. With our migration to Quovo, we are confident we’ve found the most frictionless implementation of aggregation available.”
About Commonwealth Financial Network
Founded in 1979, Commonwealth Financial Network, member FINRA/SIPC, is the nation’s largest privately held independent broker/dealer–RIA, with headquarters in Waltham, Massachusetts, and San Diego, California. The firm supports 1,710 independent advisors nationwide in serving their clients as registered representatives, investment adviser representatives, and registered investment advisers, as well as through hybrid service models. For more information, please visit www.commonwealth.com.
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