Intelliflo’s Personal Finance Portal Enables Holistic Financial Planning

As I speak with experts about the state of global digital wealth management, I’m struck by the similarities between the UK and the US, specifically in how financial information is shared and used for holistic financial planning.

Intelliflo is a practice management solution in the UK that provides software to financial advisory businesses. We’re the largest supplier in the industry; in fact, we’re able to provide full aggregation of a client’s financial information across their assets.

We accomplished this by leveraging Envestnet® | Yodlee® Aggregation API for permission-based access to bank, credit card, investment, loans, rewards, and other financial account data.

We also have our own system to connect with the end users’ pensions and investments. With our system, we’re able to fully aggregate all financial information, and use it in our digital advice portal, which our financial advisors can offer to their clients. Over the last 10 years, we’ve been providing advisors access to that information electronically.

Intelliflo has been in business since 2004, and we’ve got about 1,600 firms in the UK using our software, which translates to about 15,000 financial professional users. These firms have around 8.6 million UK-based end users with £240 billion of assets under advice.

We started working with Envestnet | Yodlee about a year and a half ago. We had been looking at a few data aggregation providers in the marketplace, but we selected Envestnet | Yodlee because they had genuine integrations with financial institutions in the UK and access to over 15,000 data sources, while others were only US-focused with limited data.

With help from Envestnet | Yodlee, we launched our upgraded Personal Finance Portal in August 2015. Since then, we’ve provided an invaluable tool for advisers to help their clients look holistically across their short, medium and long-term finances. Clients can view their aggregated financial data and interact with advisors via a secure, online ‘hub’ on any mobile or web device.

Hear From Experts about New Trends in the Future of Wealth Management

Recently I spoke on a panel discussion sponsored by Finextra and Envestnet | Yodlee on trends in the global wealth management industry. This webinar featured experts like Stephen Wall, Senior Analyst, Aite Group; Reg Warlop, Global Head of Digital, HSBC; Zachary Karabell, Head of Global Strategy, Envestnet; and Jason O’Shaughnessy, Senior Vice President Envestnet | Yodlee.

During the panel, we discussed the following topics:

  • The increase in fintech acquisitions by wealth management firms;
  • Changes in business models driven by regulatory refinement;
  • A shift in focus of pure digital advisor models to active management, alternative investments and retirement; and,
  • The globalization of digital wealth management.

Feel free to download a recording of the webinar by visiting the Finextra website and registering online.