FusionIQ announced today that their wealth platform solution now supports links to three additional custodians. FusionIQ is now linked to six different custodians.
For banks, credit unions, RIAs, broker dealers, and wealth managers of all sizes, FusionIQ is a well-known software-as-a-service (SaaS) provider.
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FusionIQ offers an e-commerce workstation with everything they require to build an innovative digital wealth investment experience for their end retail customers.
FusionIQ is the first-of-its-kind digital investing platform, allowing financial advisers to deliver a personalised, end-to-end investment experience to their clients at scale.
Users will be able to better manage their total risk as a result of the increased connection, which will provide them with a more seamless and comprehensive picture of their investment deposits across a wide range of custodial institutions.
The platform has recently added Fidelity, Pershing, and Interactive Brokers. Equity Trust, Apex, and DriveWealth are still linked.
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By GlobalDataThe platform’s recent updates came as a result of the industry’s first bank failures since the financial crisis, which caused fear among depositors and momentarily cast doubt on the futures of many institutions.
Mark C. Healy, Chief Executive Officer of FusionIQ, stated, ‘’ “One of the takeaways from the recent turmoil in the banking industry is that firms, advisors and investors must appreciate that achieving diversification and managing risk transcends asset allocation. Where assets are located is just as important, especially in an era where family offices and other firms that manage money for wealthy individuals have partnerships with various custodians. While we have thankfully averted another full-scale banking crisis this time around, no one should lose sight of the fact custodians could come under the same pressure we saw within the retail banking industry in recent weeks.”
Advisers and investors may now access information about all of their custodial relationships in one place and, if necessary, rapidly shift money or alter positions via a customised and user-friendly interface.
While SIPC (Securities Investor Protection Corporation) protection is now capped at $500,000, the additional insights on the FusionIQ platform are especially relevant for wealthy individuals and the firms and advisers that serve them.
