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Industry Spotlight > RIAs

Riskalyze Introduces New Tool to Help Advisors Pick Tech

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What You Need to Know

  • The tool helps advisors build a tech stack that integrates with Riskalyze.
  • Choosing tech tools is a major pain point for advisors, Riskalyze says.
  • Riskalyze says it has tens of thousands of advisor users and works with every major wealth-tech product.

Riskalyze launched a new, proprietary Build My Tech Stack tool on Tuesday that it said provides a step-by-step guide for advisors to quickly design fintech integrations within Riskalyze that are best for their practices.

The tool is intended to save advisors “countless hours of frustration” searching through the “vast landscape” of fintech solutions available, according to Riskalyze, which says it now “serves tens of thousands” of financial advisors with risk alignment and portfolio analytics.

Build My Tech Stack will “empower advisors to pre-select various integrations, whether they are current customers or not,” the company said. The tool will then generate a personalized report providing step-by-step instructions, “automatically prioritizing the ones to set up first, including an overview of what the integration does and the necessary steps to set up each piece” of software, it said.

Riskalyze is “keenly aware of advisors’ pain points regarding the technology they use to run their business, communicate with clients and prospects, research and manage investments, and the myriad additional responsibilities of the modern advisor,” it said in the announcement.

The company “believes that wealth-tech integrations should simply work, and the Build My Tech Stack tool gives advisors more time to focus on what they do best — serve the needs of their clients,” it said.

“Every advisor knows the disappointment of choosing what they think could work for them, only to produce a ‘FinTech Frankenstein’ that does not function as it should,” Riskalyze said.

Advisors often tell the company that “it’s great that Riskalyze integrates with every major wealth-tech product, but I really need help making sense of all of these integrations and how to configure them for optimal workflow and data flow,” according to Aaron Klein, Riskalyze CEO.

“Our team realized we had the ability to make it incredibly easy for advisors to generate a customized tech stack integration plan that they and their staff can implement quickly and easily,” he said in a statement.

Within the tool, all Riskalyze technology partners are available to select from using a “simple, clean menu, whereby the advisor selects their existing or desired tech” from a list of key categories: custodians, customer relationship management, document management, financial planning, portfolio management, and research and data.


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