Riskalyze has named Redtail Technology CEO and co-founder Brian McLaughlin to its board of directors, leading to speculation about what the move means for Riskalyze’s future.
The news comes about two weeks after Orion Advisors Services said it was merging with Brinker Capital.
Meanwhile, Riskalyze directors Andy Swan and Ryan Shanks wrapped up their time on the fintech firm’s board after serving since 2014; they remain advisors to the company.
Riskalyze’s Risk Alignment Platform includes tools for analyzing investment risk and investors’ risk preferences, while Redtail makes cloud-based client relationship management software used by 40,000 financial advisory firms.
“We think about board members two years at a time,” Riskalyze CEO Aaron Klein said on Twitter. “Six years is an incredibly long time, and Andy and Ryan are both heroes for giving us that. No discussions, plans or even thoughts of a merger. Just a great entrepreneur in @redtailtech joining the board of another company!”
(Swan is a co-founder of LikeFolio, which uses social media intelligence to develop insights into stock market trends and consumer behavior. Shanks is the co-founder and CEO of advisor recruiting firm FA Match.)
Tim Welsh, head of Nexus Strategy, said the move is not likely a precursor to a merger or acquisition.