IFAs warm to cloud-based portfolio management

The fintech provider says more than 150 advice and accounting firms are now using the Sharesight product, with independent advisers acting on client demand.

“Truly independent financial advisers are turning to Sharesight for best-of-breed client reporting and as way to aggregate client holdings across platforms and broker accounts,” general manager Doug Morris told ifa.

“We charge on a per portfolio basis, not based on assets under management [and] our pricing [is] far less than legacy solutions.”

Mr Morris said that the client reporting and analytics capabilities of traditional wraps and platforms are outdated and look like “they were spun off a 1980s dot-matrix printer”.

Most adviser clients are led to the product by their clients, Mr Morris said, with “tens of thousands” of investors now using Sharesight, reflecting “$4.5 billion in assets tracked”.