Increased Demand for a Unified Data Stream

February 22, 2012 No Comments »

Increasing Demand Fuels ByAllAccounts’ Growth

ByAllAccounts today announced that assets flowing daily through its aggregation engine reached $400 billion during 2011, nearly double the amount at the end of 2010. ByAllAccounts added new clients at the rate of roughly one per business day. The jump is being fueled by the increasing demand from advisors who want to provide holistic wealth management services, as well as by the growing demand from asset managers and personal trading surveillance solution providers.

“Our growth in the past two years has been very gratifying,” said James Carney, ByAllAccounts president and CEO. “Financial advisors increasingly rely on us to alleviate the need to create, maintain and modify individual data feeds from multiple custodians. This significantly reduces system implementation time, reconciliation processing time and reporting.”

Registered Investment Advisors

ByAllAccounts was ranked number one in account aggregation by Advisor Tech Tools’ user statistics. And, it was ranked one of the top 20 technology products used by advisors according to an InvestmentNews survey. The growing demand comes from the increasing number of RIAs who want to scale their practice in providing high-quality client service.

Compliance Officers Tracking Employees’ Personal Trading Activities

ByAllAccounts now partners with more than five of the leading providers of compliance solutions for personal trading, adding four in 2011 alone. Compliance officers are realizing that instead of maintaining point-to-point connections with many different custodians, they can get aggregated daily account data from multiple custodians with multiple asset types (e.g., equities, bonds, alternatives, insurance, etc.), delivered to their back office systems through one normalized, consistent data feed.

Asset Managers

Use by asset managers is expanding as more firms recognize that they can eliminate manual data entry by using ByAllAccounts daily aggregated account data for reconciliation.

We have established a wide range of partnerships. ByAllAccounts’ business through partners expanded significantly in 2011.

Technology Partners

The list of partners who integrate ByAllAcounts’ account aggregation into their technology solutions (e.g., portfolio management, reporting or CRM) has grown to 25, with RedTail Technology, Envestnet and AssetBook added in 2011.

Back-office Outsourcing Services to Financial Advisors

ByAllAccounts’ outsourcer partners manage the daily processing of data aggregated using ByAllAccounts, as well as data received directly from custodians. Partners will not only create files that are ready for reconciliation, they’ll perform the actual reconciliation. These ByAllAccounts’ partners now number more than 30.

Data Providers

One new trend ByAllAccounts experienced in 2011 was demand from data providers, such as custodians and asset managers. Demand was fueled by the need to get their data into their clients’ plethora of platforms.

In 2011, the company continued its commitment to provide advisors with educational thought-leadership programs, including white papers, webinars, and periodic surveys to assess trends in the industry. Highlights include:

Webinars: Create Distinction: How to Stand out in a Crowded Advisory Space; The Madoff Lessons: What Every Financial Advisor Must Learn From History’s Biggest Ponzi Scheme; Acquiring the Next Generation of Wealth: How to Attract Gen X & Y Clients

Smart Decisions Papers: Bring Held-Away Assets into the Fold: The Definitive Guide to Billing; Help Your Clients Prepare for the Future – Harold Evensky on Managing Client Assets; Attract High Net Worth Clients by Adhering to the Fiduciary Standard

Surveys: Marketing and Business Development; CRM Survey; Tech Gadget Survey

About the survey

ByAllAccounts conducted a national survey of financial advisors in September 2011 about their approach to marketing and business development, including their growth plans, goals and strategy, value and effectiveness of activities and challenges. The findings presented are based on aggregated responses from more than 215 advisors. To download an executive summary of the ByAllAccounts survey, please visit

About ByAllAccounts, Inc.

ByAllAccounts, the financial advisors’ choice for account aggregation since 1999, is the only service that retrieves, enriches and consolidates reconciliation-ready account data from any custodian. ByAllAccounts’ patented aggregation engine, through which hundreds of billions in assets flow daily, aggregates all client account data — from any source — within an advisor’s wealth management platform or trust accounting system for a truly comprehensive view. Thousands of advisors rely on ByAllAccounts to save administrative time and costs, mitigate risk associated with having incomplete information and grow revenues through client referrals and new business development. ByAllAccounts integrates seamlessly with all of the most popular wealth management platforms. For more information, visit .

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