You’re getting an upgrade! Riskalyze is in the process of migrating to a new third-party vendor to host our Outside Asset Sync feature. This functionality will change by April 12th and will require you to re-sync your client accounts once our migration is complete.
To help prepare you for the switch, we’ve put together a step-by-step guide of how you can best assist your clients in re-syncing their accounts to Riskalyze via Plaid.
This partnership with Plaid will bring you more functionality and faster client data load times for all of your Outside Asset Synced accounts.
To start re-syncing your client’s accounts, you will want to filter your client list for any clients that are requiring attention. You can access this list by navigating to the Riskalyze home screen, clicking on the search bar, and selecting the filter for Needs Attention > Asset Sync Credentials Expired.
Note: These filters will not be available to users until early April 2021.
Once filtered, navigate to your client’s account and click into their portfolio. From the portfolio overview, you can review which accounts have been flagged with expired credentials and will need to be updated. All accounts appearing in this list have been synced through Quovo and will require updated credentials using the new Plaid workflow.
Any account synced with Quovo will no longer be kept up-to-date after April 12th.
Select the account you’d like to update and choose which method you’d like for your client to re-enter their credentials.
- Launch Now - This is great to use when your client (or prospect) is present and can enter their institution's login information.
- Share Link - Provides a client-specific Asset Sync link that you can insert into your customized correspondence with your client.
- Send Email - Send your client an email directly from Riskalyze providing instructions on how to complete Asset Sync. The system will also cc you in on the email thread ensuring you’re included in the process.
Note: Your client will be able to add multiple accounts using a single link during this migration process.
Syncing an account with our new vendor — Plaid — is very similar to the process with Quovo and will guarantee clients are familiar with the process. Once the client has entered their credentials, their accounts will automatically be synced into Riskalyze and all outdated Quovo synced accounts will be removed.
If you find accounts that are still duplicated, please remove the old instance of this and not the new account that was just synced in.
Note: This could happen if Riskalyze is unable to identify the new instance as a match to the old instance.
And that’s it! Please note that some financial institutions will require credentials to be re-entered every few days or weeks for security reasons. If an account is no longer synced, you’ll need to have your client re-enter their credentials.
Frequently Asked Questions:
Why did we move to Plaid?
Quovo was recently acquired by Plaid — you can learn more about this acquisition here.
Are there any changes to my workflow?
When the Quovo to Plaid integration takes place, you will need to resync all of your client accounts. Your workflow will not change outside of relinking clients’ credentials and accounts.
Why is my financial institution not available?
While Plaid does connect to thousands of financial institutions, we cannot guarantee that all institutions will be available. If you have questions or concerns about Plaid or account syncing, you can reach out to us at email@example.com.