FP Alpha Teams With PreciseFP To Help Advisors With Advanced Planning

The Deal Will Leverage PreciseFP’s Integration Partnerships To Assist Advisors Using Financial Planning Software Not Yet Integrated With FP Alpha.
Andrew Altfest, CEO and Founder, FP Alpha
Andrew Altfest, CEO and Founder, FP Alpha
Jeff Berman, Contributing Editor & Reporter, Wealth Solutions Report
Jeff Berman, Contributing Editor & Reporter, Wealth Solutions Report

Wealthtech firm FP Alpha will leverage digital client engagement platform PreciseFP’s main integrations as part of a new strategic partnership, they said Wednesday.

FP Alpha’s artificial intelligence (AI)-driven advanced planning solution for advisors will take advantage of the integration partnerships of Docupace-owned PreciseFP to help advisors using financial planning software not integrated with FP Alpha now, the firms said.

The pact will give those advisors the “ability to access and auto-populate client data from their planning software directly into the FP Alpha platforwm, saving hours of time and providing advisors the ability to offer advanced planning to their entire base,” according to the firms.

The expanded integration will enable FP Alpha users to collect critical data and documents in a secure manner, they said. The data connection allows FP Alpha users to sync that data with financial planning tools including eMoney Advisor and RightCapital.

“Data and documents are now seamlessly fed into FP Alpha’s AI-driven technology that reads clients’ tax returns, wills, trusts and insurance policies, and instantly summarizes key data and identifies actionable planning insights – reducing what used to take days and hours into minutes,” the firms said.

Charlie Clark, Chief Revenue Officer, FP Alpha
Charlie Clark, Chief Revenue Officer, FP Alpha

“We already had an integration with PreciseFP that was very popular with our users and wanted to take it a step further with this partnership,” according to Andrew Altfest, a certified financial planner who is CEO and Founder of FP Alpha.

“This now allows advisors, who are using planning software and other tech tools that we don’t have a current integration with, the ability to auto populate client data from those tools into the FP Alpha platform,” he said.

FP Alpha will issue a “limited PreciseFP license to advisors that have wanted to use our platform but wanted a more seamless integration experience with their financial planning software,” according to Charlie Clark, Chief Revenue Officer of FP Alpha.

“Now with this partnership, advisors using eMoney, for example, can do just that,” said Clark. “As we roll out our Enterprise solution, this partnership is critical to ensuring success.”

Richard Thoeny, Executive Vice President – Product Strategy, PreciseFP
Richard Thoeny, Executive Vice President – Product Strategy, PreciseFP

According to Richard Thoeny, Executive Vice President – Product Strategy for PreciseFP: “Ultimately, our goal is to assist advisors in gaining access to the best tech tools that are out there so they can provide the best advice and comprehensive planning solutions to their entire client base.”

In September 2021, PreciseFP was bought by Docupace, a solutions provider focused on digitizing and automating operations in the financial advice and investment industry.

Independent broker-dealers and registered investment advisors (RIAs) use the cloud-based, integrated software suite Docupace Platform to lower back-office expenses, improve efficiency, strengthen recruiting and enhance the experience of advisors and investors, according to the firm.

Jeff Berman, Contributing Editor & Reporter at Wealth Solutions Report, can be reached at jberman@wealthsolutionsreport.com.

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