Multicustodial RIA Independent Financial Partners has selected BNY Mellon’s Albridge to provide wealth reporting to its approximately 500 advisors across the country.

According to Albridge, the agreement will provide IFP’s advisors access to Albridge Wealth Reporting, which allows advisors to present a complete view of all client assets, even those held away. In addition, for home office executives, Albridge will provide consolidated, clean transactional data from multiple custodial and legacy systems.

Albridge Wealth Reporting aggregates data from more than 100 sources to provide a consolidated view of assets through a dashboard interface that allows advisors to access household-, account- and security-level performance information on demand for any time period.

Albridge will aggregate data from all IFP’s custodians to provide its advisors with a wide range of client information that incudes benchmarks, holdings and allocations, enabling IFP advisors to offer holistic wealth management advice.

“Albridge’s longstanding relationships in the industry and its deep development sources, as well as our enterprisewide relationship with Pershing, made Albridge the obvious choice for us as we launch our broker-dealer,” Chris Hamm, chief operating officer, IFP, said in a statement.

Hamm added, “At most broker-dealers, advisors get basic account reporting but have to pay extra for a tool like Albridge. With us, it will be included in everyone’s technology fee, which will be in line with what advisors are currently paying for technology packages that don’t include out-of-the-box performance reporting.”