The rising role of account aggregation in financial planning

January 21, 2021 by Moriah Diedrich

The rising role of account aggregation in financial planning by Advicent

About the author

Moriah Diedrich

Demand generation specialist

Moriah Diedrich is a demand generation specialist at NaviPlan, the financial planning technology provider of choice for more than 140,000 financial professionals.

Account aggregation connects a client’s financial accounts, bringing their entire financial picture to a centralized location. While the definition of account aggregation is readily apparent, it’s important to understand the rising role this functionality plays in financial planning and how it impacts both the client and advisor experience.

Expedited planning

An immediate draw of account aggregation is that it expedites the typically mundane process of collecting data during client onboarding. Through the secure MX integration in the NaviPlan client portal, clients can simply link their accounts and loans by logging into any of the thousands of financial institutions available. Cumulating this information in one location gives advisors a clearer picture of a client’s holistic financial situation, enabling them to craft more meaningful financial plans in a fraction of the time.


The reduction in onboarding times is certainly helpful, but account aggregation truly shines by removing the risk of human-powered data collection and entry. By pulling information directly from financial institutions, client financial data can be updated in real-time, lessening the risk of utilizing outdated information to make financial decisions. Having this data at the ready helps advisors ensure that their advice is compliant and in the client’s best interest. Clients can also take comfort in having 24/7 access to their financial progress in the NaviPlan client portal.

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Self-directed planning

By simplifying the data entry stage for clients and giving them access to their financial plans, advisors can give clients more sense of financial control. As investor interest in self-directed planning continues to increase, institutions can offer options like Guided Retirement—an assessment in NaviPlan that helps advisors provide a financial needs analysis after entering only one data point—income. Much like the simple aggregation process creates a clearer financial picture for advisors, Guided Retirement creates uncomplicated visuals that demonstrate to clients where their retirement stands.

Why do you need account aggregation?

Driven by client expectations, financial services are becoming more centered on the value provided, rather than bottom-line costs. Aggregation helps an advisor to become a hub of client account information and their clients’ trusted resource for financial recommendations. If a client cannot get aggregation and its corresponding value from one institution, they will find it elsewhere.

Implementing a financial planning platform that capitalizes on the full potential of account aggregation will result in faster plan creation without sacrificing accuracy, all while promoting a strong client-advisor relationship. To learn the many ways in which NaviPlan can help illuminate your clients’ financial situations, request a free trial.