Introducing Report Attachments

24 Jun 2020

By Michael Fisher,
Product Manager at Riskalyze

One big impact Reg BI introduces to an advisor’s workflow is the need to deliver a new Customer Relationship Summary (CRS) form, and the SEC doesn’t mince words — the earlier you deliver your form CRS to a client, the better. Last week we announced that with Report Attachments, you can include your form CRS in Riskalyze documents like Investment Policy Statements!

While form CRS may become the primary use case for Report Attachments, it’s actually not even my favorite part of this update. Let’s dive into why we built it and how else you can use it!


 

Why we built it (CRS)

We feel strongly about the timing of form CRS delivery. While we’ve heard others talk about delivering form CRS with account opening paperwork, we don’t feel that satisfies what Reg BI calls for. Let’s face it, by the time a client is handed account opening paperwork, the odds are that they’ve seen multiple recommendations. Riskalyze has folded CRS delivery into the proposal process, making it a natural part of your existing proposal workflow, to deliver form CRS at the time of a recommendation. 

 


 

How else you can use it

What’s even better than providing a solution to attach your form CRS? We’ve added the ability to include multiple attachments! Now when you generate reports, they can include required and optional attachments from your firm. You may want to include more information about your firm, or additional conflict of interest disclosures.

Including attachments in reports is something we’ve been wanting to add for a long time, and we are so happy to introduce this alongside helping you meet your Reg BI needs.

 


 

How not to use it

With great power comes great responsibility. We think firms will get creative with how they customize Riskalyze reports to fit their needs, but we’d suggest steering clear of the use cases below. 😂

  • Crossword puzzles. Trust me, your clients aren’t that bored.
  • Your favorite recipes. Grandma’s casserole deserves to be shared, but perhaps a quick email would suffice.
  • Your favorite memes. Your compliance team may not enjoy them as much as your clients would.
  • March Madness brackets. I’m sure you’ve got great sports pools going, but this isn’t the place for those Risk 99 “investments.”
  • Another client’s reports. Comparison is fun, but this idea wouldn’t be.
  • Your résumé. In case you do share the wrong client data, perhaps one of your clients is hiring!
  • Your latest physical exam. I’m sure your clients care about your health, but they don’t need the data.
  • Selfies. Your fans can go see those beauties on Instagram.
  • Full-page ads. Clever, but your client reports are not for sale.
  • The vet bill for your spouse’s teacup yorkie. We know it’s sitting on your desktop, but it should sit this one out.



Report attachments are rolling out into Riskalyze Select and Riskalyze Elite accounts over the next week, so be on the lookout for your in-app alert! In the meantime, feel free to dive into our Knowledge Base to learn more.

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