TechTalk

TechTalkblog

InvestmentNews takes advisers through the developments and innovations in technology that’ll change the way you do business today—and tomorrow.

Fidelity ramps ups the integration of six apps for WealthCentral

Sep 27, 2011 @ 12:21 pm

By Davis D. Janowski

Fidelity Institutional Wealth Services announced today that it is delivering integration for six new applications on its WealthCentral platform.

These include providers in both the portfolio management and client relationship management space — specifically Envestnet Vantage Performance Reporting, Morningstar Office, Redtail Technologies, Salesforce.com and AppCrown LLC.

Fidelity IWS also added features to WealthCentral in the areas of document and workflow management working in conjunction with XTRAC Solutions and Redtail Technologies.

Also part of today's announcement are deeper integrations with several already established WealthCentral partners.

Among these are what are Fidelity refers to as "deeper contextual" integrations, which allow client data that is entered in one application to automatically flow through to and be referenced "in links between the other applications being used."

I'm seeking some clarification on what exactly that means. For example, I want to know if the data is persistent or overwrites previous data or is non-persistent or, in over-simplified terms, is read-only and is viewable only during that session. I will update this post accordingly when I get some answers.

In the meantime, the included partners and applications with deeper integrations are Advent Software Inc.(with its Advent Portfolio Exchange and APX OnDemand products), Black Diamond Performance Reporting (now a part of Advent), EISI (the NaviPlan Select financial planning application) and Oracle CRM On Demand.

The details thus far provided on the Black Diamond enhancements point to "bi-directional data integration, contextual navigation, cost basis synchronization processing and data directly from Fidelity for life insurance, tax exempt and Fidelity Charitable accounts."

As for the Advent APX revamp, improvements include cost basis synchronization as well as "enhanced graphical reporting." Advent also plans to come out with a "flexible security master" sometime in the fall.

Users of the popular NaviPlan Select planning software will be able to import securities positions into their plans with a single click.

There have been improvements made to the Oracle CRM On Demand offering as well. For one thing, clients can now access new pre-built reports. In addition, synchronization with Fidelity custodial data has been enhanced. New mobile and email marketing capabilities are supposed to be available in the fall too. Perhaps these will help with the underwhelming level of adoption of the offering among registered investment advisory firms thus far.

0
Comments

What do you think?

View comments

Recommended for you

Featured Research

The 2015 InvestmentNews Adviser Technology Study

This in-depth study provides a blueprint for the industry, providing actionable information to advisers, along with the latest solutions to help them drive profitability, efficiency and growth for their firm.

Featured video

Events

3 themes shaping your business now

If there are three overriding themes for advisers right now its succession planning, acquisition and hiring millennials. Financial adviser James Loftin discusses how his firm is tackling all three.

Video Spotlight

The Search for Income

Sponsored by PGIM Investments

Recommended Video

Path to growth

Latest news & opinion

T. Rowe Price steps up its game to serve financial advisers

The Baltimore-based mutual fund giant is more aggressively targeting financial advisers with a beefed-up wholesale crew and placement on custodial platforms.

The most important tax changes for 2018

The Internal Revenue Service issued inflation adjustments to more than 50 tax provisions for 2018.

Shift to Roth 401(k)s 'highly likely' part of tax reform: former Treasury official Mark Iwry

Mandated contributions to Roth accounts would likely only be partial, as opposed to having a full repeal of pre-tax accounts.

E*Trade acquiring custodian Trust Company of America

Discount broker buying second-tier custodian for $275 million.

Another thousand Dow points higher, and investors yawn

Market milestones keep falling like dominoes, with 51 records broken so far this year.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print