Financial Planning and cashflow modelling software provider Voyant is to use data platform Moneyhub’s open banking and open finance APIs throughout its adviser systems.
The partnership will give Financial Planners using Voyant’s platform instant access to clients’ financial holdings, it said.
The secure, GDPR compliant data-sharing will allow Planners to speed up the fact-finding process by seeing clients’ up-to-date assets and analysis of their income and expenditure in real-time.
It will include real-time data from clients’ bank accounts, credit cards, investments, pensions, loans mortgages, ISAs and other financial products.
The company said the partnership will allow for more accurate automatic modelling, with Planners and their clients better able to visualise and track an individual’s outcomes and goals.
The move will also support Planners with their Consumer Duty requirements by focusing on a client’s goals and providing products and services that are best suited to each individual, the company said.
Kim Jenkins, managing director of Moneyhub API, said: “A complete picture of a client’s financial information is vital for advisers to give personalised and effective advice.
“Consent driven, comprehensive and real-time access to financial data is critical for advisers to support their clients in achieving their long-term aspirations. Only with this information can they advise on the right products and solutions, at the right time, to deliver on those goals.”
Voyant was founded in 2008 and serves more than 2,500 firms, including many of the world’s largest banks, private banks, and wealth management firms.
It provides Financial Planning and client digital engagement tools to 20,000 advisers and companies in the UK, Canada, Ireland and the US.
It was acquired by US wealth management fintech AssetMark Financial Holdings in 2021 in a £104m deal.
