Keeping outside assets from silently going stale
The 401k figure in the plan was typed in fourteen months ago from a statement the client no longer has, and nothing on the report marks it as such, because the planning tool treats every number it holds as current. Tracking when each held away value was last refreshed, watching for the connections that broke when a password changed at the other end, and surfacing what the plan is now relying on past its useful life is the whole job. It does not create a feed where none exists. It stops an old number from quietly becoming the basis of a retirement projection.
The account application comes back not in good order because of a missing initial, and the whole signature cycle runs again.
The custodian holds the assets and is the record. The advisory firm runs a relationship system alongside it, plus a portfolio and reporting system, plus a planning tool, and the same client identity is entered into each because there is no shared key between them.
- eMoney Advisor
- RightCapital
- Addepar
When this is the wrong thing to build
Pick something else if your plans are refreshed in full at every review anyway. Then staleness is already handled by cadence.
The constraint that shapes it
Books and records rules require preservation of communications relating to advice and recommendations, and to the movement of funds, in an accessible place, for a defined period with the earliest portion held locally. More on how this sector works.
No alarm goes off when a thing simply stops arriving. Read what this shape is, or start from one of these.
- Noticing that an agent licence has quietly lapsed
- Watching an MLS feed for the day it goes quiet
- Catching a lapse date nobody put on a calendar
- Closing the registration window before it closes you
- Scheduling the visits a membership already promised
- Closing the permit that never got its final inspection
- How do I tell how old a held away account value is?
- Why does a 401k connection break after a password or login change?
- How do I refresh outside asset values without asking every client?
- What happens to a financial plan when a held away balance goes stale?
Back to wealth management, or see how this is priced and scoped.