Flourish, a fintech platform that helps RIAs access innovative financial products, is poised to help more advisors broaden their client relationships through a new collaboration.
Flourish announced Tuesday that it has entered into an integration partnership with financial planning platform RightCapital.
This alliance aims to empower financial advisors by integrating data on their clients’ cash holdings and annuities at Flourish into RightCapital's Net Worth tab, providing advisors with a broader and more complete view of their clients’ financial picture.
RightCapital reportedly has seen is its market share more than triple since 2020, while Flourish Cash has grown its assets under custody soar past the five-billion-dollar mark, representing a threefold increase in two years.
“Flourish and RightCapital share a growing number of financial advisors, and we’re excited to make this long-awaited integration available to them,” Shuang Chen, co-founder and chief executive officer of RightCapital, said in a statement.
Chen highlighted the enhanced asset visibility that advisors can gain, particularly their often-overlooked cash holdings. One recent study from Flourish found advisors estimating their clients keep 7 percent of their net worth in cash, when in reality it was more than 30 percent.
Flourish supports over 750 financial advisors managing more than one-point-five trillion dollars in combined assets, giving its users branding opportunities and the ability to tailor service offerings, including discretionary and client-directed account options.
RightCapital also offers a broad suite of services to its advisor users with features like interactive retirement planning, cash flow and goals-based planning, tax-efficient distribution strategies, and estate planning, among others.
"By obtaining a comprehensive understanding of their clients' entire financial landscape, advisors are better equipped to provide superior financial guidance," said Max Lane, chief executive officer at Flourish.
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