According to an announcement, the firms say that PowerAdvisor, a solution for managing assets, producing reports, billing clients and rebalancing accounts, is now powered by what the firms described as “professional-grade” account aggregation. According to a press release, an option now exists for PowerAdvisor portfolio management system customers to “cost-effectively add account aggregation, creating new opportunities to identify, advise on and bill against new assets under management and more easily and efficiently manage compliance-related activities”.
“Our goal is to bring account aggregation to as many advisors as possible through platforms that are most familiar to them,” said James Carney, president of ByAllAccounts. “This partnership with Cornerstone Revolutions inserts our account aggregation solution into the proven PowerAdvisor workflow, giving independent investment advisors and smaller firms yet another competitive, but still cost-effective advantage over larger firms.”
“We are very excited about our partnership with ByAllAccounts,” said Mary Helper, president and CEO, Cornerstone Revolutions, Inc. “In today’s challenging market, we are seeing more and more advisors who want to invest their clients’ money to maximize earnings and minimize fees. Our partnership with ByAllAccounts enables us to give our advisors the flexibility to easily and affordably capture data from wherever they choose to custody assets.”
ByAllAccounts’ patented aggregation engine, through which more than $170 billion in assets flows, aggregates all client account data within an advisor’s wealth management platform or trust accounting system for a truly comprehensive view.