Finpace <> Wealthscape
Overview
The integration between Finpace and Wealthscape allows financial advisors to seamlessly manage client data, account information, and other critical operations by synchronizing these platforms. Wealthscape, a robust platform for wealth management, becomes even more powerful when integrated with Finpace, enabling streamlined workflows, enhanced data accuracy, and efficient client management.
This guide will walk you through setting up the integration, syncing data, and optimizing your workflow to leverage the full potential of both platforms.
Configure the Finpace-Wealthscape Integration
Before you can begin synchronizing data between Finpace and Wealthscape, you’ll need to set up the integration to ensure that the two platforms communicate effectively.
To set up the Finpace-Wealthscape integration:
- Access Wealthscape Integration Settings in Finpace:
- Navigate to Settings -> Integrations -> Wealthscape within your Finpace account.
- Click Connect to Wealthscape to begin the integration process.
- Authorize the Connection:
- You will be prompted to log in to your Wealthscape account and authorize Finpace to access your Wealthscape data.
- Once authorized, Finpace will establish a secure connection with Wealthscape, enabling data synchronization between the two platforms.
- Configure Sync Settings:
- After the connection is established, you can configure how data is synced between Finpace and Wealthscape.
- Choose the data types you want to sync, such as client profiles, account balances, transaction histories, and investment portfolios.
- Set the sync frequency to ensure that your data stays up-to-date, whether in real-time, hourly, or daily.
- Test the Integration:
- Perform a test sync to ensure that data is transferring correctly between Finpace and Wealthscape.
- Verify that client information, account details, and other relevant data appear accurately in both platforms.
Once the integration is set up and tested, you can begin managing your Wealthscape data directly within Finpace.
Syncing Client Data and Account Information
With the integration in place, you can easily sync client data and account information between Finpace and Wealthscape, ensuring that both platforms are always in sync.
To sync data between Finpace and Wealthscape:
- Initiate a Manual Sync (if needed):
- While Finpace can automatically sync data based on the frequency you’ve set, you can also initiate a manual sync at any time.
- Navigate to Operations -> Sync Now within Finpace to manually trigger a data synchronization with Wealthscape.
- View Synced Data:
- After syncing, you can view all synchronized client data, including profiles, account balances, and recent transactions, within the Finpace dashboard.
- Use this data to manage client relationships, monitor investment performance, and provide informed financial advice.
- Update Client Information:
- Any updates made to client information in Finpace will automatically sync with Wealthscape, ensuring that your records remain consistent across both platforms.
- Likewise, changes made in Wealthscape will reflect in Finpace, allowing for seamless management of client data.
Automating Workflows with Wealthscape Data
The integration also enables you to automate workflows in Finpace based on data from Wealthscape, streamlining your operations and reducing manual effort.
To automate workflows using Wealthscape data:
- Set Up Automation Triggers:
- Navigate to Engagement Hub -> Automations in Finpace.
- Create a new automation and choose a trigger event based on Wealthscape data, such as:
- New Account Opened: Trigger an onboarding sequence when a new client account is opened in Wealthscape.
- Portfolio Update: Automate a client notification when there is a significant update to their investment portfolio.
- Define Actions:
- Specify the actions that should follow the trigger event, such as sending an email to the client, updating a client profile, or generating a report.
- Use Wealthscape data to personalize these actions, ensuring that clients receive relevant and timely information.
- Monitor and Adjust:
- Once your automations are live, monitor their performance to ensure they are running smoothly.
- Make adjustments as needed to optimize your workflows and ensure that your automated processes are as efficient as possible.
Enhancing Client Service with Integrated Data
Integrating Finpace with Wealthscape allows you to provide enhanced client service by leveraging the combined data from both platforms.
To enhance client service:
- Use Wealthscape Data for Client Reviews:
- During client reviews, access Wealthscape data directly within Finpace to provide a comprehensive overview of their financial situation.
- Present up-to-date account balances, portfolio performance, and recent transactions to offer informed advice and tailored recommendations.
- Streamline Client Communications:
- Automate client communications based on Wealthscape data, ensuring that clients receive timely updates and relevant information.
- For example, set up automated emails that notify clients of changes in their account or investment performance, helping to keep them informed and engaged.
- Ensure Data Accuracy and Compliance:
- The integration ensures that data between Finpace and Wealthscape is always accurate and consistent, reducing the risk of errors and ensuring compliance with regulatory requirements.
- Regularly review synced data to ensure it meets compliance standards, and use Finpace’s built-in tools to generate reports for audits or client meetings.
Best Practices for Using the Finpace-Wealthscape Integration
To get the most out of the Finpace-Wealthscape integration, consider the following best practices:
- Regularly Review Sync Settings: Periodically review your sync settings to ensure that you’re syncing the most relevant data at the right frequency. Adjust as needed to accommodate changes in your workflow or client needs.
- Leverage Automation: Take full advantage of Finpace’s automation capabilities by setting up workflows that use Wealthscape data to trigger actions, reducing manual work and improving efficiency.
- Maintain Data Security: Ensure that both Finpace and Wealthscape are configured to meet your firm’s data security standards, protecting sensitive client information at all times.
Conclusion
The integration between Finpace and Wealthscape provides a seamless way to manage client data, account information, and financial operations across both platforms. By syncing data, automating workflows, and leveraging integrated information, you can enhance your client service, streamline your processes, and maintain accurate records. This powerful integration enables you to make the most of both Finpace and Wealthscape, ensuring that your financial practice operates efficiently and effectively.
