Many clients may use other account aggregation tools for basic cash flow tracking like Personal Capital or Mint. Advizr offers a similar, easy to use solution that has the added benefit of flowing directly into their financial plan.
1. Navigate to either a) Wizard / Add Accounts or b) Profile / Accounts, and click the 'Add Account' tab
2. Use the 'Link Account' dropdown box [Search for Financial Institution] to select from one of 16,000+ domestic financial institutions
3. Ensure that the URL that comes up just beneath the name of the institution you seek matches that of your target (there are 11 different versions of a Wells Fargo option, to name one, given the breadth of that institution's product offerings).
4. Enter username and password for that account, click 'Submit' in the lower left hand corner, and wait about a minute on average. Note, for some institutions, special instructions may apply and a bubble message above the login credentials will appear. Make sure you follow these instructions before proceeding.
5. In some cases, further security protocols may apply, and the client will be prompted to enter them in subsequent pop up screens
6. If the system replies that your account linkage is “Pending”, as in the screenshot below, let it alone and move on, as it means that the security protocol exchanges between the institution and our data aggregator (Quovo) are taking longer (generally a good thing, as it is what provides the end-to-end data encryption and security that Quovo and thus we are able to offer to keep you and your clients secure)
7. All accounts, asset values, and asset allocations should thence automatically begin aggregating and updating twice daily, around 7am/2pmEST.
8. If you see that a particular account's asset allocation is 100% cash, and this is not the case, one or both of the following situations may be occurring:
- Your client’s positions and/or securities are not publicly traded funds: we determine asset allocations by referencing tickers with Morningstar, and thus if the ticker cannot be found in Morningstar’s database, we default to cash- if this is the case you will need to manually enter the portfolio asset allocations manually and turn off the ‘sync’ functions in the individual account
- The transcription between your clients' asset allocation and Morningstar did not pair properly: to correct, we ask that you/your client send us a screenshot including what the actual positions/asset allocations of the account should be, including the client's name, and we can attempt to reconstruct it
If you're looking for a PDF for emailing or forwarding, you can download one here: