Short answer
A custodian data feed is the regular file or API transfer of account, position, balance and transaction data from a custodian, such as Schwab, Fidelity, Pershing or Altruist, into a firm's CRM or portfolio system. It keeps account values accurate without manual entry.
Custodian Data Feed explained
Custodians usually deliver data as daily files or through APIs, sometimes via a data aggregator or portfolio management system. The feed maps custodial accounts to clients and households, updates balances and holdings, and can create new accounts automatically. Access to some custodian data requires approval from the custodian and the firm's advisors.
Feed quality problems, such as unmatched accounts and duplicates, quickly undermine advisor trust in the CRM.
How Vantage Point helps: we integrate custodian and portfolio data into Financial Services Cloud and HubSpot, with matching rules and exception reports.
Frequently asked questions
Should account balances be typed into the CRM?
No. Balances should come from the custodian or portfolio system so they stay accurate and auditable.
Why do some custodial accounts not match a client?
Usually missing or inconsistent identifiers, such as tax IDs or account numbers, between the custodian and the CRM.