Class and Macquarie Wrap integration
Enabling automation and visibility of managed accounts data
With wraps and platforms increasing their support for managed accounts, accountants and advisers need their clients’ data represented in the right way, to provide valuable insights and quality advice.
Previously, the complexity involved with managed account structures made it difficult to represent managed account data in a meaningful way.
Now, a new innovative integration between Class and Macquarie means that managed account data for Macquarie Wrap can be entered directly into Class. Once a parent account has been set up in Class, all the managed accounts and underlying holding accounts will be automatically created when the Macquarie data feed runs:
- Investment accounts held by the parent account
- Bank accounts held by the managed account(s)
- Investment accounts held by the managed account(s)
- Transactions and balances for the above.
This provides full data visibility across all managed accounts, and removes the need to manually enter data to represent the valuation of the managed account. Not only will you be able to report on the complete value of your fund, including its managed accounts, but you will be able to reconcile all movements that occur in the accounts.
The automated solution delivers accountants and administrators with significant time savings and reduces the risk of errors.
Class will be delivering support for other managed account providers over time, including BT Panorama and further developing Class reports to allow detailed reporting for your managed accounts.