BGL Corporate Solutions said that the integration with HeirWealth would automate valuation processing for efficient intergenerational wealth transfers.
“We are excited to add HeirWealth to the BGL Ecosystem,” said BGL chief executive Daniel Tramontana.
“This integration will help clients effortlessly provide accurate valuations for assets and liabilities held within their SMSFs, companies and trusts managed in BGL’s Simple Fund 360 and Simple Invest 360 software to HeirWealth’s platform.”
According to HeirWealth, the platform aims to help Australian SMSFs have better intergenerational conversations about money.
It gives advisers and investors a view of their assets and liabilities across 40 different classes, including both traditional and non-traditional investments.
“The forthcoming intergenerational wealth transfer is going to present a lot of challenges. Whether you want to start having those conversations now or wait till later, centralising information in one secure location like HeirWealth is a great idea,” said Ray Tubman, founder and CEO of HeirWealth.
“The HeirWealth platform provides simple yet powerful wealth tracking that allows individuals, families and professional advisers to organise everything together in one place.”
He added that this includes everything from term deposits, shares and property, through to private equity and “assets of passion” like fine wine, antiques and collectibles.
“You can even upload photos from your phone and leave annotations to capture your family’s story and legacy, so everything is recorded in one central vault and preserved for future generations,” Tubman said.
According to Jeevan Tokhi, general manager of product – Simple Fund 360, Simple Invest 360 and BGL SmartDocs at BGL, the integration is facilitated by BGL’s “free and open API, which provides asset balance data from Simple Fund 360 and Simple Invest 360 into HeirWealth, refreshing the data nightly”.
“This allows firms to streamline their client’s financial world by consolidating all their financial and lifestyle assets, along with essential documents, into one easy-to-use application,” Tokhi said.
The firm said there are more than 350 data feed and integration partners in the BGL Ecosystem.
