FP Alpha, a provider of AI-assisted planning software, has announced a partnership to reduce a key headache for financial advisors as they provide advanced planning solutions to clients.
The AI-based wealthtech provider announced that it has inked a new collaboration with PreciseFP, a client engagement and data-gathering platform under Docupace, which works with some of the industry’s largest independent broker-dealers and RIAs.
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The strategic alliance aims to streamline the process for advisors using financial planning software not currently linked to FP Alpha.
"This now allows advisors, who are using planning software and other tech tools that we don’t have a current integration with, the ability to auto populate client data from those tools into the FP Alpha platform," Andrew Altfest, founder and CEO of FP Alpha, explained in a statement.
According to Altfest, the latest move builds on a previous PreciseFP integration that was very well-received by advisor users of FP Alpha, whose artificial intelligence module takes key data and pinpoints insights for actionable planning from tax returns, wills, trusts, and insurance policies.
The partnership leans on PreciseFP's reputation for offering a top-tier client onboarding platform, as well as its extensive integration network of more than 30 popular advisor technology platforms.
By feeding more data and documents seamlessly into FP Alpha’s AI, advisors using it can securely gather crucial client data and documents from market-leading financial planning tools such as RightCapital and eMoney Advisor, compressing hours- or days-long processes into minutes.
Charlie Clark, FP Alpha's chief revenue officer, said they will be expanding advisors’ access to use their platform by issuing a limited preciseFP license for “a more seamless integration experience.”
"As we roll out our Enterprise solution, this partnership is critical to ensuring success," Clark said.
"Ultimately, our goal is to assist advisors in gaining access to the best tech tools that are out there so they can provide the best advice and comprehensive planning solutions to their entire client base," added Richard Thoeny, executive vice president of product strategy at PreciseFP,
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