Why do we need view only access at the custodians? When we work with advisors, we ask for two pieces of data access:
Data Feed Authorization - this paperwork comes from the advisor and directs the custodian to send raw data (e.g. accounts, transactions, positions, cost basis) to Bridge. These raw data files are processed by our proprietary back end software and the normalized data is used to power various solutions (e.g. Atlas, APIs). The data feeds are granted permission at the advisor code level (e.g. rep code, master number, G Number) so firms have a choice of what accounts they make available to Bridge for processing.
View Only Access at the Custodian - there are times when reconciliation is required or the BridgeFT data team needs additional information from the custodian that is not available on the raw data files. In these cases, we use view only access credentials in order to gather extra information and ensure the data is clean.