Heldaway Assets – Roadmap to ByAll

 

Questions from chat:

• “We are a hybrid firm- our Broker-Dealer prohibits us from having client user names/ passwords. Can BAA or Quovo be totally managed by the client so we do not violate this rule? The answer is ‘yes.’ The heldaway partners both have options that will allow the client to log into their site and set it up directly with them so that they can access those accounts without your involvement in that.
• “With increasing security features, especially with financial firms, is maintaining these accounts becoming more difficult? IE I use a Fidelity service that essentially does the same thing, and it’s always asking for challenge questions.” Also, yes. However, ByAll and Quovo work continuously to deal with this reality in new and creative ways.
• “If an account is pulled in by either system will it be pushed through to integration partners like MGP?” Basically, yes. Regardless of the source, if an account has fed into Orion, it can integrate. This doesn’t work for ByAll Balance Sheet in the Client Portal, though. Reach out to Integrations (888.695.0523) with more questions on this.
• “Can you explain the difference between BAA and Quovo and why we would choose one over the other?” We have a much longer history of working with ByAll and have come up with a lot of solutions with them. When we started with Quovo, it was rocky, but recently they have made a lot of advances. At this time, Quovo’s interface is probably more user friendly and their technology is very promising.
• “If we are currently using byall accounts to feed data into assetbook how difficult is the changeover when implementing Orion?” ByAll has a process for importing/ exporting this information that takes a snapshot of your accounts and can be used to transfer them. There is a one time charge for this service and it does not keep the snapshots synced up, meaning you would have to continue to update them both whenever you made changes.
• “If transactions come through incorrectly or don’t show up at all from ByAll/Quovo, can I manually correct or enter the transactions myself, or do I need to go through Orion similar to when there are price issues?” Any transactions (including ByAll) can be updated by an advisor with the right privileges turned on in their database. This is different from Global prices, which you will need help from someone at Orion to update.