Cloud-based personal wealth platform, myprosperity, and investment and super platform, Netwealth, have announced that they are the latest partnership in a spate of agreements between online providers and advisor groups to integrate data.
The partnership would allow advisers using the myprosperity portal access to Netwealth client account investment and portfolio data, allowing them to better track their clients’ superannuation investment accounts.
Chief executive of myprosperity, Chris Ridd, felt that the partnership would allow advisers to provide the best service possible, especially in light of current issues regarding data use.
“Given today’s tense debates around the ownership of financial data and advisors’ professional independence, partnering with Netwealth is a crucial stop towards creating an open and diversified ecosystem where advisers and their clients can make informed decisions about their future,” he said.
Netwealth Group joint managing director, Matt Heine, said that the partnership would help create a more open environment.
“Netwealth is committed to fostering an open ecosystem for advisers, and myprosperity share that commitment.”
Netwealth was recently listed on the ASX and had $15.4 billion in funds under management at the end of last year. myprosperity had 20,000 users tracking $30 billion at the time of writing.
