How Data Integrations Make Advisors’ Lives Easier

17 Jan 2023

A glowing orb showing connections between dots, to indicate data connections or integrations

Simply put, when members of your tech stack play well with others, life as an advisor becomes easier. Make sure the financial planning software you choose integrates seamlessly with at least a couple of your favorite software programs, whether they are your CRM, performance reporting/analytics tools, or custodial platforms.

The Ezra Group WealthTech Integration Scores, developed through a partnership with Kitces Financial Advisor Directory, measure breadth (number) and depth (robustness) of integrations. RightCapital scores an 8/10, falling into the “Superior” (or highest) designation. As demonstrated in our 2022 updates review, we are working on new connections all of the time and are always open to suggestions of new partners. The product team honors advisors’ needs, and past recommendations are a key factor when prioritizing future integrations. To view our current connections, visit our Integrations landing page.

Two tweets from RightCapital advisors showing their excitement about an integration with Altruist with gifs from television shows Schitt's Creek and The Office

Here are a few ways that the right integrations can help financial advisors in their everyday lives:

Save time and create efficiencies

When your chosen platforms automatically connect with each other, you can say goodbye to manual data entry and say hello to more free time to focus on analysis, illustrating scenarios, and making recommendations.

Stay organized

Because you aren’t entering data multiple times in multiple sources, you’ll be less likely to miss something or count it twice, and you can keep all client information, accounts, and communication in one spot. RightCapital’s Blueprint™ visualization helps advisors and clients view full financial pictures at a glance and allows for updating within the same screen, if ever there were the need.

Ensure accuracy

Advisors won’t have to worry about accidentally adding an extra zero to a client’s custodial account balance when that information is automatically brought in from a trusted partner through an API connection. If data is updated in one spot, the direct connection (updated daily) keeps it consistent wherever it appears.

Boost client engagement 

Integrations help populate the client portal without putting the burden on either you or the client. Having a client’s financial picture in one central location (or on a one-page plan, as in RightCapital’s Snapshot) will inspire them to visit their client portal more often and keep you, as their advisor, at top of mind.

Remember fewer passwords

If you’re in password or internet browser tab overload, integrations can help. Your financial planning software may provide Single Sign-On linkages so you can log in to one system and have access to many. RightCapital, for example, offers Single Sign-On capabilities with partners such as Redtail, Wealthbox, ClientWorks, XY Planning Network, and Orion.

Learn more about our integration partners and how RightCapital could help your practice by scheduling a private 20-minute demo with one of our specialists.