We're excited to be part of RIA in a Box's new Client Suitability Tool announced today. Read the full press release from RIA in a Box below.
RIA in a Box Expands Partnership with Riskalyze to Launch Client Suitability ToolBOSTON, MA — October 2, 2019 /PRNEWSWIRE/ —
RIA in a Box, a leading provider of compliance, cybersecurity, and registration software for the wealth management industry, announced today an expanded partnership with Riskalyze to launch the Client Suitability Tool as an expansion of its MyRIACompliance software platform. Augmenting recurring Compliance Calendar reminders to prompt assessment of client suitability and performance review, the new tool provides a more seamless experience for advisors and firms to conduct, track, and document the client suitability and portfolio review process enabled by the two platforms.
At a quick glance within the MyRIACompliance dashboard, individual advisors can easily identify if a client has been assigned a Risk Number® and if their portfolio is in alignment. Advisors are prompted when action is needed to either activate the Riskalyze integration, secure a client's Risk Number or review a client portfolio to be in alignment with a client's risk tolerance.
"Acting as a fiduciary and documenting those actions is a top priority for independent advisors, and at RIA in a Box we are focused on how we can further streamline those tasks," said RIA in a Box Director of Product, Mike Lubansky. "We are excited to expand our partnership with Riskalyze to launch this first of its kind Client Suitability Tool to use technology to automate and document client suitability and portfolio reviews, easing the advisor's workflow and giving them back time to focus on what they do best – serving their clients."
"We are ecstatic to expand our integration with RIA in a Box which supports our mission to empower the world to invest fearlessly," said Riskalyze CEO, Aaron Klein. "The Risk Number is the industry standard for ensuring clients are comfortably investing within their risk profile, and we feel that the independent advisors using the MyRIACompliance will see great value in this new automated tool."
From the firm-level view on MyRIACompliance, Chief Compliance Officers (CCOs) and other designated supervisors overseeing compliance have access to a full summary of all clients. This allows them to identify if all advisors have activated the Riskalyze integration, secured Risk Numbers and that client portfolios are aligned to the Risk Number. Additionally, they have the ability to prompt advisors who need to take action on any of these items through the platform.
The Client Suitability Tool is now available to all mutual clients of Riskalyze and MyRIACompliance. For more information, please visit https://www.riainabox.com/.
About RIA in a Box LLC
RIA in a Box is a leading provider of compliance software to the wealth management industry. Launched in 2005, RIA in a Box is led by Will Bressman and GJ King who transformed the business into the market leading SaaS-based compliance solution focused on the RIA industry. Over 1,700 RIAs of varying size use the platform to increase compliance workflow efficiency and to automate regulatory requirements. For more information about RIA in a Box, please visit: www.riainabox.com.
Riskalyze is the company that invented the Risk Number®, which powers the world's first Risk Alignment Platform and was built on top of a Nobel Prize-winning academic framework. Advisors, broker-dealers, RIAs and asset managers use the Riskalyze platform to create alignment between clients and portfolios, leverage sophisticated analytics to increase the quality of their advice, automate trading and client account management, and access world-class models and research in the Riskalyze Partner Store — all with the mission of empowering the world to invest fearlessly. To learn more, visit riskalyze.com.