US wealth manager Raymond James<\/a> and investment intermediary 7IM<\/a> are the other big-name platforms to have joined the data integration hub. The partnership with Novia and Wealthtime is an important boost for the FINIO hub as it strengthens its grip on the platform data tech market. Novia is an adviser platform with \u00a312bn of assets under management and a strong client base of IFA firms. While platform technology firm Wealthtime manages over \u00a32bn of assets under administration.<\/p>\n\n\n\n FINIO is owned by Sprint Enterprise Technology, a tech firm known for its Fastrack software. Sprint said it has taken the aggregated data it has acquired from Fastrack to create the FINIO hub. It offers advisers and wealth managers integrated applications that enable them to manage, review and report on client investments in a more cost effective way. The hub manages investment data from platforms and advisers\u2019 back office systems so advisers can see information via a single point of access.<\/p>\n\n\n\n \u201cWe are delighted to be partnering with Novia Financial and Wealthtime who recognise the importance of good quality data. Adviser firms need valuation and transaction data from investment platforms in the software solutions they use \u2013 be they CRMs or financial planning tools.\u201d<\/em><\/p>\n\n\n\n \u201cHowever, building and maintaining multiple connections has become hugely resource intensive, as the volume and complexity of this data increases day by day. FINIO simplifies this process, so instead of having to manage a huge number of point-to-point connections, platforms now need to manage just one integration to the hub leaving FINIO to do the \u2018heavy lifting\u2019 of delivering data to adviser solutions providers.\u201d<\/em><\/p>\n\n\n\n \u201cFor a platform, the key advantage is enabling the flow of data more efficiently to the numerous software solutions used by advisers. For financial advisers, it\u2019s getting improved data in the software systems they use more quickly, with less effort and with no risk of having to rekey information \u2013 and all at no extra cost to themselves.”<\/em><\/p>\n\n\n\nNovia and Wealthtime are the third and fourth platforms to sign up to the hub since its launched over a year ago<\/h3>\n\n\n\n
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