Fresh-thinking platform Fundment and pioneering cashflow tool CashCalc are treading new ground in adviser technology integration with a unique tie-up.
Existing users of both providers can now open a client account on the platform from CashCalc with a single click. The integration will help advisers save time while reducing the risk of errors through re-keying.
Though integrations exist between several traditional back-office providers and platforms, including Fundment, this is the first of its type featuring another part of the adviser ecosystem – a cashflow modelling tool.
The providers are keen to ease adviser frustrations with what some perceive as shaky tech integrations between providers, which often manifests as having to re-key client data multiple times.
Fundment and CashCalc are now set to develop deeper integrations via two-way data sharing including, for example, importing full transactional history from Fundment into CashCalc. This has the potential to significantly ease advisers’ workload and make the annual review process more efficient.
Ola Abdul, CEO of Fundment, said “We’re delighted to announce this link with CashCalc. Advisers hear plenty of talk about platform integration, so we are happy to be able to show them something. This is being used right now.
“Fundment is a platform, but we are also a technology company, and this is the sort of thing technology companies should be doing: using our skills and expertise to make things simpler for advisers and clients.”
Ray Adams, founder of CashCalc, said: “This is a significant integration – our first ‘straight-through’ with a platform. Maybe we have saved an adviser only a few minutes, but we have reduced the risk of errors through re-keying and moved a step closer to where we would all like to be.
“Advisers shouldn’t have to think about integrations, they should just see them happening, so we’re pleased to put this in place. Fundment is an exciting up-and-coming platform and I’m happy they are the first on board.”
In three: How the Fundment/CashCalc tie-up works…
1. Advisers can use CashCalc to digitally onboard a client and conduct their financial planning.
2. When the client is ready to invest, advisers can use the ‘invest’ tab in CashCalc and with a single click* open a Fundment account for their client, using their Fundment credentials.
3. The client is added as a ‘lead’ in Fundment with all their details from CashCalc automatically populated in the platform.
