The leading provider of retirement income management software, Income Lab, Inc. (Income Lab), has selected BridgeFT’s WealthTech API for the purpose of aggregating multi-custodial data so that Income Lab’s cutting-edge software for ongoing retirement income management and client engagement can be powered and enhanced.
It is the mission of Income Lab to provide impactful retirement tools that can be used by advisory firms of all sizes–large and small. Having access to multi-custodial data has enabled Income Lab to acquire new advisors and onboard them successfully. As an added bonus, this data was also crucial for powering their planning tools with accurate and up-to-date information about their clients’ investment accounts on time.
This is the reason Income Lab is able to provide impactful retirement tools to advisory firms of all sizes–large and small–through access to multi-custodial data. Income Lab has been able to acquire new advisors and successfully onboard them to its platform because of access to multi-custodial data. In addition to powering their planning tools with accurate, on-time information about client investment accounts, this data was also vital.
“BridgeFT’s on-time multi-custodial data, coupled with the robust features of Income Lab, helps advisors answer questions regarding retirement such as, “How much can I spend?” or “Will I be okay if things change?”,” said Justin Fitzpatrick, Chief Innovation Officer of Income Lab. With BridgeFT, we are able to get access to key data in a single place, eliminating the need to contact each custodian directly, which greatly shortened the time it took us to make our solutions available to advisors.”
In addition to providing financial institutions, fintech innovators, and registered investment advisors with better, data-driven outcomes for their clients, BridgeFT is the world’s first cloud-native, API-first wealth infrastructure software company. WealthTech API is the company’s first WealthTech-as-a-Service platform, offering an open API that can be used to access trade-ready, multi-custodial data, advanced analytics, and application services through a single, open API.
In addition to providing advisors with a truly dynamic view of retirement income, Income Lab provides the opportunity to make their planning experience more engaging. BridgeFT is delighted to help fuel this WealthTech innovator’s growth and client experience, said Joe Stensland, Chief Executive Officer of BridgeFT.. By integrating custodial data seamlessly into Income Lab via WealthTech API, advisors using their software will be able to provide their clients with accurate and realistic planning through all stages of retirement that will lead to better outcomes for their clients.
By integrating custodial data seamlessly into Income Lab via WealthTech API, advisors using their software will be able to provide their clients with accurate and realistic planning through all stages of retirement that will lead to better outcomes for their clients.
With BridgeFT’s WealthTech API, we are able to pull in critical investment account information for clients, which contributes significantly to the retirement plan of a client. Through this process, we maintain a client’s investment accounts up to date, which is what drives our automated plan monitoring feature within Income Lab.
Using automated multi-custodial data to power the financial planning process, Income Lab’s platform offers end-users a multitude of benefits including the following: