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Integrations for the Modern adviser


Advice Tech and Integrations - one of the most topical conversations in the industry. Data connectivity is important and much talked about for the below reasons:

1. Time savings

Typing the same data into different systems takes time and therefore costs the financial advice firm money. Being able to integrate the data and transfer automatically is a big win.

2. Accuracy and data quality

Typing data between systems is a huge risk to the accuracy of data. An integration can allow the data to flow without any human interruption. Done right, it can come straight from the client without having to be touched by any staff!

3. Scalability

Between the above 2 points, you might see a pattern of automation. Manually moving data around and checking/fixing is not only going to cost you time and money, but it will hold you back from doing more valuable activities, like speaking to clients whether new or existing.

Below we've created a map of systems that integrate to each other. See where your systems fit in and what opportunity lies ahead with integrations.

A bit more about Integrations and APIs.

As the global tech landscape changes, and the need to cut costs and move faster takes over - advice tech systems have been pushed to integrate with each other through APIs, or application programming interfaces. However, some systems still rely on older integration methods, such as standard file transfer protocols.

APIs are a set of programming instructions that allow different software systems to communicate with each other. They are designed to simplify the process of integrating different systems, making it easier for developers to connect their software to other platforms. In the context of advice tech, APIs allow financial advisors to access client data and use it to make informed recommendations about investments, financial planning, and other areas.

One of the main benefits of using APIs is that they are fast and efficient. Because the communication between systems happens in real-time, advisors can access client data and analytics instantly, without having to wait for data to be transferred manually. This not only saves time but also ensures that advisors have the most up-to-date information at their fingertips, which can be critical in making informed investment decisions.