The financial planning and account aggregation provider eMoney Advisor held its annual user conference this week, during which it announced the availability of eMoney Aggregation as a standalone product.
The company has long provided client account aggregation to advisors using the product but as an integrated piece of its larger financial planning platform.
According to the firm, its aggregation platform provides data connections to more than 12,000 sources, with 90% of those feeds relying on secure, direct API connections with data providers, including banks and other financial institutions (rather than screen scraping, which relies on end client credentials).
eMoney reports that it has also streamlined its resolution process, with service tickets down 70% over the past five years.
Broken feeds and erroneous or unreconciled data have long been complaints and headaches for advisory firms that use account aggregation services, regardless of the provider.
In its announcement, the company cited increased demand from enterprise customers for a standalone aggregation product as at least part of the rationale for the new offering.
As of press time, the standalone aggregation product had not been added to eMoney’s main website product pages. However, the company provided a dedicated page with more information where firms can request more information or a consult.
Intelliflo redblack Introduces Wash Sale Detection
Advisor technology provider intelliflo announced this week the launch of its new wash sale detection capability within its redblack rebalancer.
This addition allows for the linking of accounts, including separately managed accounts across family members, to alert for potential wash sales before they occur. These capabilities are designed to help financial advisors ensure compliance with IRS wash sale rules while also optimizing tax management.
Using the technology, advisors can now automatically screen for potential wash sales at the position or trade lot level when performing portfolio rebalancing.
Advisors will recall that intelliflo, owned by Invesco, is the firm’s financial advice umbrella organization, which includes the advisor-focused companies formerly known as Jemstep, Portfolio Pathway, Intelliflo UK and i4C (which have all been re-branded with the intelliflo name), as well as redblack. It was formed in early 2021 and supports more than 30,000 financial advisors in the U.S., UK and Australia.
