The collaboration between BridgeFT and ShellBlack has resulted in the development of a Multi-Custodial Data Aggregator specifically designed for Salesforce Financial Services Cloud (FSC), marking a significant advancement in data integration for wealth management firms. This solution facilitates access to over 900 direct feeds from leading financial institutions such as Charles Schwab, Fidelity Institutional, Pershing Advisor Solutions, and Interactive Brokers, enabling seamless synchronization of financial accounts, positions, balances, transactions, and tax lots.
What sets this aggregator apart are its unique features like tax lot synchronization and the ability to integrate data from multiple providers, offering household-level investment visibility and employing multi-tiered matching logic for accuracy. These capabilities allow financial institutions to streamline complex operational processes and derive enhanced business insights directly within their Salesforce platform, addressing the critical need for unified client investment views.
Dave Hagen, BridgeFT's Chief Commercial Officer, underscored the importance of this solution, pointing out Salesforce FSC's role as a vital enterprise connection engine for registered investment advisors and wealth management firms. Shell Black, president of ShellBlack, also highlighted how this technology tackles the persistent issue of data fragmentation, empowering firms to maintain a comprehensive and unified overview of client investments.
The aggregator's support for feeds from a wide array of financial institutions, including custodians, banks, insurance carriers, and retirement plan providers, coupled with its native integration with Salesforce analytics and business process automation, positions it as a versatile and powerful tool for professionals in the wealth management sector. This innovation reflects the broader digital transformation underway in financial services, where advanced data integration and seamless technological solutions are increasingly pivotal for maintaining a competitive edge.
