Screen Scrapers, Bots: Where Does Client Data Come From?

Third-party data aggregators were recently top of mind for FINRA, who warned that they may not be functioning the way they are intended, putting both consumers and financial professionals at risk. In this article for Financial Planning, Roger Ash, Vice President for Broadridge Advisor Solutions, suggests it is time to take a second, deeper look at the data sourcing tools that might be jeopardizing both privacy and security. In doing so, he also examines the benefits and disadvantages of some of the alternatives, such as direct data feeds and APIs, and suggests questions to ask your data aggregation vendor on how they source the data.