In the ever-evolving world of financial technology, few innovations have the potential to transform wealth management as significantly as asset aggregation solutions. Today, we’re thrilled to sit down with a leading expert from fincite, a company at the forefront of revolutionizing investment advice through its cutting-edge SaaS platform, fincite • cios. With a deep understanding of the challenges advisors face in managing fragmented financial data, our guest offers invaluable insights into how their platform is breaking down barriers and empowering wealth managers to deliver personalized, data-driven advice. In this conversation, we’ll explore the inspiration behind the platform, its unique features, the impact of consolidating financial data, and the future of asset management in an increasingly complex industry.
How did the idea for fincite • cios come about, and what specific pain points in wealth management were you aiming to address?
The idea for fincite • cios was born out of a clear recognition that wealth management was becoming unnecessarily complicated for advisors. Many were juggling multiple software systems—sometimes up to a dozen—each holding pieces of critical client data. This fragmentation led to inefficiencies, errors, and missed opportunities for tailored advice. We wanted to create a solution that could centralize and simplify this process, allowing advisors to focus on their clients rather than wrestling with disparate tools. Asset aggregation became our cornerstone because it directly tackled the problem of scattered data, providing a single, reliable source of truth.
What sets fincite • cios apart from other tools in the asset management space?
What really differentiates fincite • cios is its flexibility and adaptability. Unlike many other tools that lock users into rigid systems, our platform is designed to work with a wide range of data sources and integration methods. This means advisors can customize how they aggregate and manage client information based on their specific needs. One feature that consistently gets positive feedback is our ability to handle both liquid and illiquid assets seamlessly—whether it’s traditional investments or unique holdings like jewelry or digital assets. It’s this versatility that advisors and clients find incredibly valuable.
Can you walk us through how fincite • cios integrates financial data using its direct interface with banks and custodial institutions?
Absolutely. Our direct interface with banks and custodial institutions is all about ensuring high-quality, seamless data transmission. By connecting directly, we minimize the risk of errors that often come with manual or third-party data handling. This method pulls real-time financial information straight from the source, giving advisors an accurate and up-to-date picture of a client’s portfolio. It’s a critical component for maintaining data integrity, which is non-negotiable when making informed investment decisions.
How do partnerships with AISP providers enhance the platform’s account integration capabilities?
Partnering with trusted AISP providers like fino, Qwist, and wealthAPI allows us to offer simple, click-based account integrations that save time and effort. These partnerships enable advisors to connect to a vast network of financial institutions effortlessly, pulling in client data with just a few clicks. The benefit here is scalability—advisors can manage accounts from multiple banks without needing to navigate different systems or protocols, making the process smoother for both them and their clients.
What role does your collaboration with GOIO Data GmbH play in managing financial documents?
Our work with GOIO Data GmbH is pivotal in standardizing bank billing documents. They help convert these documents into uniform data records that can be directly integrated into our system. This is especially useful for asset managers and family offices who need a comprehensive, cross-bank perspective. By normalizing this data, we eliminate inconsistencies and ensure that advisors have access to clean, usable information, which ultimately improves the quality of their analysis and advice.
Why did you decide to include a manual data entry option, and how does it cater to diverse asset types?
We included a manual data entry option to ensure inclusivity and flexibility for advisors dealing with non-traditional or illiquid assets. Not everything can be pulled automatically—think properties, collectibles, or emerging asset classes like digital currencies. By allowing manual input, we empower advisors to build a complete picture of a client’s wealth, no matter how unique or complex their holdings are. It’s about giving them the tools to capture every detail, ensuring nothing slips through the cracks.
How does fincite • cios address the issue of data silos, and what impact does this have on advisors and clients?
Data silos—where customer information is trapped across disconnected platforms—are a major roadblock in wealth management. With fincite • cios, we break down these barriers by consolidating all that data into a single, accessible hub with just one click. For advisors, this means they can see the full scope of a client’s financial situation without toggling between systems, which reduces errors and saves time. For clients, it translates to more accurate, personalized advice because their advisor isn’t working with incomplete or outdated information. It’s a win-win.
Can you elaborate on how the 360-degree view of assets and liabilities benefits wealth managers in their daily operations?
The 360-degree view is a game-changer for wealth managers. It provides a unified snapshot of a client’s entire financial landscape—both assets and liabilities—in one place. This comprehensive overview streamlines decision-making because advisors can instantly assess risk, identify opportunities, and tailor strategies without piecing together data from multiple sources. It also builds trust with clients, as they see their advisor has a clear, holistic understanding of their finances, which fosters stronger, more transparent relationships.
What is your forecast for the future of asset aggregation and wealth management technology?
I believe asset aggregation will become the backbone of wealth management technology in the coming years. As financial portfolios grow more diverse with alternative investments and digital assets, the need for seamless, centralized data solutions will only intensify. We’re likely to see even greater integration of automated valuation tools and AI-driven insights to handle this complexity. At fincite, we’re already working on expanding our capabilities to cover more asset classes like insurance and collectibles, and I think the industry as a whole will move toward hyper-personalized, data-driven advisory services that prioritize client trust and long-term value.