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Fidelity Adds Capabilities to Integration Xchange: Tech Roundup

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What You Need to Know

  • LPL's new Meeting Manager tool makes it easier for advisors to prepare for client meetings.
  • Aviso Wealth selected Broadridge to power its wealth management platform.
  • Raymond James appoints former E-Trade tech exec Raj Bhaskar to its growing RIA & Custody Services division.

Fidelity Institutional on Wednesday introduced enhancements to its Integration Xchange open-architecture digital store that helps wealth management firms build and manage custom technology solutions.

Fidelity now offers integrations with more than 200 fintech firms, including more than 400 active points of integration with those providers, along with hundreds of other integrations, including application programming interfaces (APIs) and single-sign on (SSO) directly with clients’ platforms, it said.

Integration Xchange was introduced by Fidelity in 2018 and added several new features last year. The number of real-time integrations has increased by 200% since 2018, Fidelity said Wednesday.

The latest updates include a new dashboard and more self-service tools for data management, Fidelity said.

The new dashboard offers a quick, comprehensive snapshot of integrated fintech firms, including details such as digital certificate expiration status, helping firms understand where they need to take action to avoid disruption and ensure ongoing connectivity between systems, it said.

Fidelity will continue to add new information to the dashboard, including version details to help firms know when it is time to upgrade and test environment status so they can make the most of available testing options, it said.

Also new to Integration Xchange are self-service capabilities to manage data transmission rules on the platform and new Fidelity APIs.

The first release includes search, retrieve and update work items APIs. Additional workflow and alerting APIs that automate interactions are planned for later this year, Fidelity said.

AdvisorEngine, Advyzon, Agreement Express, Laser App, Orion and 55ip are among the new or recently enhanced integrations.

Fidelity and AdvisorEngine are rolling out deeper integrations for account opening that will enable advisors to more seamlessly open accounts on the Fidelity platform.

Advisors, meanwhile, can now leverage new account opening and SSO integrations between Advyzon and Wealthscape to more efficiently open accounts. New integration capabilities also include the ability to view account positions and monitor Fidelity alerts in Advyzon, and for custodial statements to be synced to the Advyzon Document Vault.

LPL Launches Meeting Manager

LPL Financial advisors now have access to Meeting Manager, a new proprietary digital solution that it said Wednesday was designed to make it easier for advisors to prepare for client meetings.

“Meetings play a foundational role in the client-advisor relationship and the advisor’s fiduciary responsibility,” according to LPL. However, advisors report it may take hours using an average of six different applications to prepare for just one meeting, the firm said.

Meeting Manager was developed to “take the friction out of meeting preparation by centralizing the workflow into a single solution, streamlining the process and creating more time in an advisor’s day,” LPL said.

Meeting Manager is integrated within ClientWorks, LPL’s advisor technology workstation, and is available at no additional cost to all LPL advisors.

With Meeting Manager, just the click of a button will assemble documents across multiple systems into a bundle that advisors can then customize for their upcoming meeting, according to LPL. “This saves advisors significant time by simplifying the steps to organize and manage client meetings, and by reducing the administrative tasks associated with them,” it said.

Aviso Selects Broadridge

Broadridge Financial Solutions has been selected to power Aviso Wealth’s wealth management platform, the companies said Thursday.

Aviso is using Broadridge’s digital advisor desktop and securities processing engine, as well as its integrated Digital Information Onboarding platforms.

Aviso will “leverage” Broadridge’s solutions for its mutual fund dealer business, the companies said in a joint announcement. Aviso is using similar solutions to power its full-service securities dealer business.

“Although securities and mutual fund dealers are separately regulated entities, Broadridge’s Dataphile and Digital Information Onboarding solutions have the unique capability to support advisors, clients and operations for both businesses on a single platform,” the firms explained in their announcement.

Raymond James Adds Tech Exec From E-Trade

Raymond James has appointed Raj Bhaskar as vice president of technology strategy for the firm’s growing RIA & Custody Services division.

He will be “dedicated to building upon the firm’s technology suite” for its RIA community, the firm said.

Bhaskar joins Raymond James from E-Trade, where he served as head of strategy for the product suite offered to independent financial advisors and the wealth management community.

“Over the years, he has contributed to accelerate the pace of integration of Fintech platforms serving registered investment advisers,” according to Raymond James.

Prior to joining E-Trade, he led application development teams at TD Ameritrade, where he played a key role in launching that firm’s first custodial platform for RIAs to embrace open architecture.