Lincoln Ross, CEO of CircleBlack, joined Julie Cooling, Founder and CEO of RIA Channel, to discuss the integration of client and advisor data across custodians and software platforms.
CircleBlack offers advisor desktop and client portal software, offering comprehensive interfaces to custodians and aggregation sources. The firm has been investing in bidirectional integrations with the wealth tech ecosystem. CircleBlack allows advisors to build a best-in-class tech stack that best fits their practice.
CircleBlack offers a flexible platform, allowing advisors to choose the software they want to use, allowing modules from integration partners to be used interchangeably. CircleBlack manages the core data platform, while advisors choose the tools they want to use to process that data. With a modern, widget-based user interface, data visualization offers views of assets and performance at the client, advisor, or firm level. Advisors can view client data on one screen, including assets, performance, Nitrogen’s risk scores, MoneyGuide Pro probability of success, among other metrics.
CircleBlack can work with advisors on which platforms to integrate, which varies depending on the individual focus and priorities of each advisor’s business and the degree to which they outsource various processes to external providers.
Advisors are searching for opportunities to leverage artificial intelligence to improve their practice. Ross notes that advisors should use basic AI tools to prepare meeting agendas, transcribe meeting notes, and define action items from a meeting. CircleBlack is building the next level of AI that can be used to unlock value by combining structured and unstructured data. Structured data is standard numerical data, such as assets and returns. Unstructured data includes everything else that happened during the time the performance was calculated. The output of the new AI will be to write a performance commentary and macroeconomic summary customized to each client’s holdings.
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