Bank account-linked net worth tracking
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Kurt Walkom
Link invesment, retirement & bank accounts to get a complete overview of your net worth.
Like an Australian version of Personal Capital's net worth portal & calculator:
"If we could have an Australian version of Personal Capital for tracking net worth, expenses, etc, that would be amazing." x2
"Also, is there any roadmap for including non-share market traded assets/liabilities? E.g. Investment property details, alternate investment vehicles, etc. as inputs to the "Goals" page? I'll hazard a guess to the answer being "not yet" but would be interested in this functionality. Currently tracking these items in Nutworth."
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Matt
Agree that having this done via Open Banking to protect the access is a must !!
Understand that’s it’s difficult to achieve as a smaller provider but hopefully you can find a way to achieve. It seems that Basiq has some ability to access banking via CDR and given you already using basiq perhaps there are some options?
Hayden Smith
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You can now track your net wealth on Pearler. We allow for direct feeds to your bank account balances as well as the ability to manually add in other asset values.
This feature will be rolled out to all customers before the end of the month, but if you would like early access please login via this link: https://pearler.com/us-earlyaccess. It will also give you access to our US Investing feature at the same time (we tied those two features together until release).
We are undergoing more research and development on this topic, so if you have any thoughts, questions, or feedback, please email wealth@pearler.com
Josh Schwarz
Hayden Smith: Will this support CDR soon? I am not comfortable using this feature as long as it needs me to hand out my password (also means I can integrate with my main bank accounts - up & 86400)
Hayden Smith
Josh Schwarz: Short answer no, but that's mainly because getting access to proper openbanking data is a huge compliance challenge at the moment - service providers are lobbying government to lower the bar for smaller companies like us, so hoping to see progress there. But I'd be surprised to see this change on our in in 2021 - it's very much a 2022 thing
Stuart
Hayden Smith: have you looked at Yodlee? It seems like the current implementation only supports about 70 banks; Yodlee supports something like 12,000. The current list has a few missing providers and some others have an orange fault status.
Hayden Smith
Stuart : The short answer is that we have, but we're also exploring the long term prospects here as most screen scrapers don't do well with 2FA and an increasing number of super funds and other products are adding 2FA to the platform which complicates things
Emma
This would be fantastic! Then we wouldn't have to use a separate app such as MoneyBriiliant or Frollo.
It could link directly using read only to our super accounts etc and also have an option to manually add a "cash" balance for those of us who store emergency money under a mattress lol
Jessica Thomson Gilby
I would appreciate being able to include other investment categories and the income from them i.e property,businesses, p2p loans
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Kurt Walkom
Jessica Thomson Gilby: the extra detail really helps - thanks 🙏