Account aggregation is "dishonest and unethical"

🔥

Has anyone else seen this? https://www.wealthmanagement.com/technology/missouri-regulators-send-warning-letter-advisors-using-data-aggregation-tech

"Firms that use client log-in data, with permission, and presumably would fall under Missouri's warning, include Envestnet's Yodlee, Morningstar's ByAllAccounts, AllData from Fiserv (formerly CashEdge) and Pontera, used by many firms to access a client's workplace retirement plan data."

"Pontera was the named target of a similar warning letter sent to advisors in Washington by that state’s securities regulators, as CityWire first reported in December 2023 and again in February."

I feel like this is a big deal, right?

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