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Onramp Clinches Integration With Riskalyze: Tech Roundup

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What You Need to Know

  • Also, Envestnet PMC rolled out the Fund Strategist Tax Management Service.
  • Morgan Stanley at Work partnered with technology law firm Wilson Sonsini.
  • Riskalyze and Allianz Life expanded their relationship.

Fresh off of raising $6 million in seed funding last month, Onramp Invest has now clinched its first risk management integration, via a pact with Riskalyze, the companies said in a joint announcement.

Onramp, a crypto-asset integration platform for financial advisors, launched in May and also offers cryptoasset education to financial advisors with its Onramp Academy.

Onramp also has integrations with Prime Trust, Gemini, Advyzon, CF Benchmarks and CoinAPI.

In the first nine months of 2021, Riskalyze said, it added more than 10,000 financial advisors representing tens of billions of dollars in assets under management to its platform.

Envestnet Launches Tax Management Service

Envestnet | PMC rolled out the Fund Strategist Tax Management Service.

The new service enables financial advisors to “seamlessly manage the tax consequences of fund strategist portfolio accounts, in either third-party manager or proprietary home office” mutual fund and exchange-traded fund models, in accordance with clients’ investment goals, Envestnet’s portfolio consulting group said.

The service was developed in response to feedback PMC said it received from advisors, and seeks to manage tax exposure and improve after-tax returns for FSP accounts invested in ETFs and mutual funds all year long.

The new offering is powered by BlackRock’s Aladdin technology and applies to all model portfolios available via Envestnet’s Fund Strategist Network, consisting of over 140 strategist firms and more than 2,000 portfolios.

The service calculates the potential tax implications of adding the service either to an existing account or moving client assets from an existing portfolio to a new model portfolio on the Fund Strategist Network, based on three possible levels of tax sensitivity.

“Depending on the selected tax-sensitivity level — Moderate, High, or Very High — the service will estimate tracking error to recommend trades that would balance a client’s tax cost with portfolio risk,” the company explained.

Morgan Stanley, Wilson Sonsini Team on New API

Morgan Stanley at Work partnered with technology law firm Wilson Sonsini Goodrich & Rosati to develop a new application programming interface that the firms said “allows equity information for mutual clients to pass seamlessly between law firm and equity management provider.”

The API integrates Morgan Stanley at Work’s Shareworks platform and Wilson Sonsini’s new proprietary software platform Neuron, which will read and write capitalization data directly into Shareworks upon any updates in real time, the firms said.

Earlier this year, Morgan Stanley at Work announced a deal with Wilson Sonsini that enabled privately held companies using the legal firm’s proprietary capitalization management software to migrate to Shareworks capitalization and stock plan platform.

In July, Morgan Stanley at Work and Wilson Sonsini announced their participation in the Open Cap Table Coalition, a consortium of technology providers and Silicon Valley law firms looking to make it easier for startups to manage their cap table by increasing data portability and interoperability.

Allianz-Riskalyze Relationship Expands

Riskalyze and Allianz Life Insurance Co. of North America announced a new partnership in which Allianz Life will be featured in the Riskalyze Partner Store, a one-stop shop where advisors are able to find key materials, research and strategies from some of the industry’s biggest firms.

Platform coverage of the Allianz index variable annuity and fixed index annuity products will also be enhanced with rich data updates on a regular basis, the companies said.

Allianz Life has also acquired licenses for its retirement and risk management consultants across the country to use Riskalyze when working with financial professionals.

The expanded relationship between Riskalyze and Allianz Life “will help aid financial professionals in evaluating Allianz Life’s annuity offerings that can help mitigate market risk and ascertain allocation recommendations,” the firms said.

The companies initially partnered in 2014, when Riskalyze users first gained the ability to model Allianz Life solutions including registered index-linked annuities to help provide client portfolios with enhanced levels of protection against downturns in the market.

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