Using account aggregation
Linking outside accounts is simple, quick, and can greatly enhance the value to clients and prospects by sharing a more holistic and up-to-date picture.
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How using account aggregation elevates your practice
Client's see up-to-date info in one convenient location — their Client Portal. This places you as the client's financial go-to source for answers, clarity, and direction -- in all their financial decisions, not just investments or retirement!
Use the Budget tool to help guide a client toward financial success in their spending (short-term success), as you also manage their assets toward financial success in their saving (long-term success)
Identify and capture held-away assets. Clients may link accounts which are not under your management. This is a fantastic opportunity to identify held-away assets and propose a case for how your excellent advising will advance the wealth of those assets.
Using account aggregation
Once account aggregation has been activated, clients will be able to use the green Link Account button on the Net Worth screen to link accounts from their financial institution.
Selecting Link Account displays a dialogue box with quick links to common institutions and a thorough search feature to find any available institution.
Enter in the name of the financial institution or the website used to log in and select it from the list.
Make sure that the type of account that is being linked is shown under the name of the financial institution.
Enter the client’s credentials that they would use to log-in to that financial institution’s website.
If the client has any form of two-factor authentication enabled, they will then be prompted to enter that information as well.
What happens once log-in credentials are entered?
- The information provided will be used to retrieve balance and position information, as well as to create a link to the account that RightCapital will use to update those values at each new login session to RightCapital.
- If a bank or credit card account is linked, RightCapital will also retrieve the past 3 months’ worth of transactions for use within the Budget tool.
- Depending on the number of accounts and transactions at the financial institution, it may take a few moments to import the information; during import, accounts may not display on the account list.
- Accounts will generally update daily but may update less frequently depending on the type of authentication used. To refresh all connections, click on the circular arrow to the right of the Net Worth value: