Leavenworth Capital announces it is officially the first cryptocurrency firm whose direct integration with Morningstar By All Accounts service is live and fully operational with financial advisors and RIA firm clients starting to leverage the offering in late 2021. Leavenworth is implementing a direct integration with Morningstar By All Accounts aggregation platform, making it one of the first cryptocurrency asset managers available to registered investment advisors (RIAs) since the asset class was formed over a decade ago.
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“At ByAllAccounts, we are committed to delivering mission-critical portfolio data to advisors and investors”
This integration with Morningstar allows advisors to invest with an institutional-grade cryptocurrency asset manager in Leavenworth and allows financial advisors to fully integrate cryptocurrencies within their current book of business on the technology and wealth management systems they currently use. These systems include: Envestnet Tamarac, Black Diamond, Orion Advisor Services, Morningstar Office SM, and Addepar, along with over 40 additional performance reporting, accounting, and trading platforms integrated with Morningstar.
“For the first time, financial advisors can now get a better understanding of their clients’ full financial picture which now includes cryptocurrencies, paving the way for advisors to provide better investment advice and accurately track, report and bill on their clients’ cryptoasset positions,” said Jack Shepherd, Leavenworth Capital CEO. “Cryptocurrencies are top of mind for financial advisors today as more clients are asking for exposure to this asset class. Many investors have tried cryptocurrency investing on their own as financial advisors and planners have been unable to advise and manage their clients’ cryptocurrency holdings until now.”
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This inability to advise clients is largely because cryptocurrencies are not yet integrated and accessible within established financial and reporting systems. It is this lack of integration that is preventing advisors from monitoring and managing their clients’ cryptocurrency-asset investments but also preventing them from reporting and billing their clients for the advice they provide on those investments.
Advisors can now invest in cryptocurrency through an institutional manager such as Leavenworth, and have the option to bill clients on the cryptocurrency assets they oversee. This integration fills a critical need because most investors have multiple accounts between their traditional and cryptocurrency investments that lack a consolidated strategy, which can lead to an increase in risk and lower investment returns.
“At ByAllAccounts, we are committed to delivering mission-critical portfolio data to advisors and investors,” says Katy Gibson, Head of Morningstar ByAllAccounts. “To that end, we strive to deliver the broadest set of data connections, including digital assets and cryptocurrency. When investors hold cryptocurrency assets, they want their advisors to be able to view them as part of the overall portfolio. Our job is to ensure needs of investors and the professionals that serve them are met, regardless of the data source. That is why we are excited to add Leavenworth to the ByAllAccounts platform.”
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