What You Need to Know
- Discovery is a new Riskalyze feature using a quantitative engine to find the best securities for each client.
- Discovery will be part of a free upgrade that will go live by Oct. 31, Riskalyze said.
- Docupace’s acquisition of PreciseFP closed on Thursday, and terms of the deal were not disclosed.
Fintech Riskalyze unveiled several enhancements to its risk alignment platform, while Docupace announced the acquisition of automated data management platform PreciseFP, on Thursday at Riskalyze’s Fearless Investing Summit in Palm Springs, California.
The standout among the Riskalyze announcements was Discovery, a new feature the company said uses a quantitative engine to find exchange-traded funds, mutual funds and other securities that best fit an investor’s portfolio using a series of criteria that includes the Risk Number and Riskalyze GPA.
For Riskalyze Select and Elite users, Discovery will be part of a free upgrade that will go live by Oct. 31, the company said.
Discovery is “the intelligent way to search the universe of securities and find the perfect fit for your clients and their portfolios,” Riskalyze CEO Aaron Klein said during his keynote.
Other New Riskalyze Enhancements
The company had a “bunch of new innovation to share,” Klein said at the start of the presentation. The latest updates will “drive your productivity and success as an advisor,” he told attendees and those watching virtually, adding a vow that the firm will continue to innovate.
For instance, “starting next year, we’re bringing all of our tools for enterprise firms together into a brand new home office suite that we’re calling Command Center,” he said. It will serve as the “home base for enterprise firms who are leveraging Riskalyze technology with their advisors.”
The home-office platform now includes an all-new Alignment Dashboard that the company said will bring central visibility to risk objectives, compliance tools for sifting through a firm’s accounts to spot and correct issues, proposal oversight to visualize and document Regulation Best Interest (Reg BI) compliance on client and prospect-facing proposals, along with user management capabilities for firms.
“Many more” new features around data intelligence are planned for Command Center in the future, Klein said.
As part of a new Portfolios experience, meanwhile, the core hub of work in Riskalyze is getting what the company said was its “most significant upgrade to date.” The new experience is “about putting what advisors need right in front of them at all times,” it said. It is being made available as a free upgrade to all Riskalyze users.
Advisors can use Riskalyze’s core analytics dynamically by switching between analyzing a portfolio, an account or a model inside an account in real time. The new Portfolios also allows advisors to “drill down deep or zoom out to see the big picture, all on the same screen,” according to the company.
The new experience is also very fast, Klein stressed. Loading the average portfolio is now eight times faster and it handles portfolios with five times the complexity, according to Riskalyze.