Financial planners need data management, according to Carlsbad, Calif.-based Financial Profiles. To meet this need, the financial-planning-software vendor has released Profiles+ Matrix, an enterprise-wide solution for data acquisition, consolidation and delivery.
Matrix consists of two components, says a spokesman for the vendor. The first involves data management.
Matrix collects and compiles client data from internal and external sources, including news and events, customer and analytic data. The system then normalizes the data and avails it for financial planners to access.
Next, the spokesman continues, Matrix uses the synchronized data feeds to provide financial planners with portfolio analysis for building financial plans. It also allows for consolidated reporting within various financial profiles, planning products on a continuous basis, he says.
Matrix, which is currently in Beta testing, will be available by the end of the year. Initially, connectivity with be available to Profiles+ Professional, the vendor's flagship financial-planning-software package. However, the vendor plans to connect Matrix to Profiles+ Forecaster, a solution designed to enable analysis of clients' financial needs.