Time4Advice Integrates with Nucleus for Transaction History Data and Automation of MiFID II and CGT reporting.
Time4Advice today announces a new integration between CURO, its leading financial planning and wealth management technology solution, and the Nucleus wrap platform.
In a new generation of integration, transaction history, at an individual client plan level, from Nucleus, is fed directly into CURO. The data is stored against a client’s portfolio record. It is then augmented by valuation data and cash movements, that includes contributions, withdrawals, transfers and fee data. As a result, advisers are provided with the data needed to automate the production of MiFID II client reporting. In addition, advisers can now efficiently calculate and report on CGT liabilities.
Time savings and greater accuracy
Until now, advisers would typically have to log on to the wrap platform, create a report and then manually record the transaction history into their back-office client management system.
This process is time consuming and exposes advisers to the risk of producing inaccurate MiFID II and CGT reports. CURO now fully automates the maintenance of this data to produce these reports, saving time and reducing risk.
Rhea Shearer, IT Project Coordinator, Matheson Financial, commented “The new automated transaction integration between CURO and Nucleus was extremely important and hugely welcomed by us. It allows us to become more efficient and streamlined as a business, relying less on multiple data sources and more on CURO. Yet another positive step for technology in the financial planning sector.”
John Walls, Head of Proposition, Nucleus, commented “Integration across adviser technology systems continues to be a challenge for many financial planning firms. We are pleased to have been able to partner with Time4Advice on this integration, which automates the data needed for client reporting. Saving time for advisers and creating efficiencies in their business is always something we’re happy to help with.”
We’re out to disrupt financial planning and wealth management technology.
For far too long technology providers have failed to deliver the panacea of benefits promised. They’ve talked about providing a joined-up experience across advice, client management, back-office and admin. Yet most advisory firms are still forced to operate within the constraints of using multiple silo systems, with data held in various places.
We’re on the side of the advisors. This means we’re changing the game. It’s why we’ve teamed up with Microsoft to create CURO; it’s an adviser technology ecosystem that spans your entire business. It unifies all your data, processes and business applications, and natively integrates with your everyday Office365 apps including, Excel, Word and Outlook.
The result is a digital transformation platform that delivers frictionless omni-channel client experiences, the ability to serve more clients, centralised data, reduced risk and significant business efficiencies.
About Matheson Financial
Matheson Financial is a firm of financial advisers based in Aberdeen, managing around 600 clients from across the UK. We very much like to take a personal approach with our clients and manage their whole financial portfolio from pensions, investments, and tax affairs. As a firm we are interested and invested in the future of technology within the advice process.
Nucleus is a wrap platform founded in 2006 by advisers committed to altering the balance of power in the industry by putting the customer centre stage. It provides independent wrap platform services to 1,428 active adviser users and works with more than 900 financial adviser firms. As at 30 June 2020, it is responsible for AUA of £15.8bn on behalf of more than 99,000 customers.
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