Cash flow, budgeting and account aggregation tools

Discover the top suppliers of cash flow, budgeting and account aggregation tools used by wealth professionals, and learn how advice firms are using this technology.

What are the most popular cash flow, budgeting and account aggregation tools?

A cash flow, budgeting and account aggregation tool is used to amalgamate bank, super and investment accounts into a single online interface for tracking and managing money, investments, cash flow, budgeting and savings goals.

A great cash flow, budgeting and account aggregation tool can benefit your business in a number of ways. A new service offering for many advisers, this aggregation technology is particularly useful for younger generations of clients. It helps clients keep savings on track, helps improve client engagement, and it helps advisers to get a better understanding of a client's position.

Research from the Netwealth 2021 AdviceTech Report shows that the top 5 suppliers of cash flow, budgeting and account aggregation tools used by wealth professionals and financial advisers include: MyProsperity (28.0 per cent of advice firms), Microsoft Excel/Google Sheets (21.5 per cent), Moneysoft (15.5 per cent), Xero (13.1 per cent) and MoneyBrilliant (9.3 per cent).

 

Netwealth's 2021 AdviceTech Report

The 2021 Netwealth AdviceTech Report explores six major opportunities and crucial technology trends that advice firms should consider as they evolve their client value proposition and enhance their customer experience.

How are advice firms using this technology?

30.7 per cent of advice firms use cash flow, budgeting and account aggregation tools for client advice – a decline from previous years.

Advice firms are split, 30.2 per cent looking to implement the technology in the next 24 months and 39.1 per cent not looking to implement this technology any time soon.

For those firms that use cash flow, budgeting and account aggregation tools, almost half (44.2 per cent) use them weekly and almost a third (32.6 per cent) use them daily.

More AdviceTech resources




Innovation workshop 

Netwealth has designed this 90-minute workshop to help you and your team prioritise technology solutions against business objectives to develop your business' AdviceTech roadmap.

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The Emerging Affluent Report

This report is a playbook for financial advisers on how to attract, manage and retain The Emerging Affluent.

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2021 AdviceTech summary video from Matt Heine

This 12 minute video explores some of the core themes that are highlighted in Netwealth's 2021 AdviceTech report.

Watch Video