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Riskalyze Increases API Offerings: Tech Roundup

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What You Need to Know

  • Riskalyze expanded its application programming interface offerings for asset and wealth management firms.
  • Franklin Templeton will leverage iCapital’s technology and service solution for advisors and clients seeking access to alternative investments.
  • Fintech Pontera teamed with hybrid RIA RFG Advisory to allow its independent financial advisors to securely manage clients’ held away accounts.

Fintech software solutions provider Riskalyze has expanded its application programming interface offerings for asset and wealth management firms.

Enterprise firms can either license Riskalyze for their advisors or “weave best-in-class Riskalyze analytics into their proprietary technology via APIs to drive client engagement and business growth,” the company said Tuesday.

Riskalyze developed a package of APIs with the needs of enterprise firms in mind, “focusing on firms that are investing in proprietary technology infrastructure, and want to incorporate best-in-class analytics into the unique experiences they are building,” it said.

The APIs were developed to “work seamlessly for these enterprise firms, whether they leverage just the API-driven experience, or also roll out Riskalyze seats firm-wide,” Riskalyze added.

The APIs available include Riskalyze Risk Number, Riskalyze GPA, Riskalyze Risk Tolerance Questionnaire, Riskalyze Retirement Maps, Riskalyze Get Client and Riskalyze Models and Portfolios.

Franklin Templeton Partners With iCapital

As part of a new pact, Franklin Templeton is partnering with iCapital on alternative investments.

Franklin Templeton will leverage iCapital’s customized technology and service solution for advisors and their clients seeking access to Franklin Templeton’s alternative investments offerings, starting with Franklin BSP Capital Corporation (FBCC) and Clarion Partners Real Estate Income Fund Inc. (CPREIF), the companies said in a joint announcement June 1.

Over the past two years, Franklin Templeton has significantly widened the breadth and scale of its alternative asset strategies.

It now has more than $200 billion in aggregate alternative assets under management across its specialist investment managers, including private real estate through Clarion Partners; alternative credit through Benefit Street Partners; hedge fund strategies via K2 Advisors; and secondary private equity and co-investments through Lexington Partners.

Alternative asset strategies account for an increasing share of the investment management industry as high-net-worth investors allocate more capital across the full spectrum of alternative offerings, making them a key strategic priority for Franklin Templeton.

Pontera Teams Up With RFG Advisory

Fintech firm Pontera (formerly FeeX) teamed with hybrid RIA firm RFG Advisory to allow its independent financial advisors to securely manage clients’ held away accounts, including 401(k)s, 403(b)s and HSAs, the firms said Thursday in a news release.

“Held away accounts including 401(k)s make up a significant portion of Americans’ retirement savings, and contributions are increasing,” according to David Goldman, Pontera chief business officer.

He noted that the total value of defined contribution accounts hit a record high of $11 trillion last year and that the “need and demand for management of these accounts is greater than ever.”

New Advisor Offering From Wealthramp

The 250 independent, fee-only advisors on Wealthramp’s artificial intelligence-driven advisor matching platform will now have access to Carefull’s safe money monitoring technology and the capability to offer clients this added service as part of a deal between the firms, they said in a joint announcement Thursday.

Carefull operates a digital platform that it says was developed to protect and manage the daily finances of aging adults.

The new partnership with Carefull will equip Wealthramp’s advisors with additional protection for their older clients and financial caregivers, the companies said.

Wealthramp also became the first official partner of Carefull’s Vault offering, which provides Carefull members with an easy way to store their passwords and important documents quickly and securely, according to the firms.

Carefull uses AI technology to protect against fraud, scams, misuse and money mistakes by automatically analyzing for unusual banking activity, strange financial behavior and increased behavior across accounts, the companies noted.

The Carefull Pro service allows advisors to monitor a client’s needs with bank-level security without accessing funds or sharing data. Carefull’s service can be customized to an individual’s specific financial management needs.

Smarsh Names New CEO

Software-as-a-Service company Smarsh’s board of directors appointed Kim Crawford Goodman to serve as the company’s new CEO, it said Monday.

Goodman, an industry veteran with more than 25 years of experience, will succeed Brian Cramer and “lead the company into its next stage of global growth,” said Smarsh founder Steve Marsh. Cramer, meanwhile, will join the Smarsh board.

Before joining Smarsh, Goodman was head of payments and risk solutions at Fortune 500 fintech firm Fiserv. Prior to that, Goodman was CEO of Worldpay US and president of Global Business Travel and Merchant Services Americas for American Express.

TIFIN Launches New Capability

The TIFIN fintech platform that uses AI and investment-driven personalization has launched a new Magnifi Mentor capability.

Investors using Magnifi, TIFIN’s investment marketplace, can now “leverage Mentor’s powerful conversational AI to help monitor portfolio activity, answer investment questions, provide real-time market analysis, discover new opportunities, and more,” the company said Tuesday.

Delivered via what it refers to as a “conversational chatbot-like experience,” Mentor uses TIFIN’s data platform and individual portfolio holdings to understand individual circumstances and preferences to offer users guidance on market events, watchlists or possible adjustments to optimize investment outcomes, the firm said.

The addition of Mentor comes after a major increase in users on the platform. TIFIN noted that Magnifi now has more than100,000 registered retail investors and more than 2,000 registered financial advisors who oversee more than $500 billion in assets.

Former Meta and PayPal executive Jon Klaff will join Magnifi as its general manager, consumer.  He will be responsible for “driving user growth and engagement and making Magnifi a daily destination for individual investors seeking better tools and insights to power their investment strategies,” the firm said.

GeoWealth Teams With 55ip

Advisor turnkey asset management platform GeoWealth announced a strategic pact with 55ip, a technology platform designed to deliver personalized tax management for independent RIAs.

“Continued market volatility, the potential for rising tax impacts, and lowering return expectations are just a few of the reasons investors are looking to their advisors for tailored solutions,” the firms said in a joint announcement.

As a result, “ongoing tax-loss harvesting and tax management capabilities are critical to advisors seeking to grow their business and serve the evolving needs of their clients,” the companies said.

In the coming months, 55ip’s tax transition and tax overlay services will be available through a select group of models in GeoWealth’s Model Center. GeoWealth now has $8 billion in AUM.

In 2020, J.P. Morgan Asset Management entered into a definitive agreement to acquire 55ip. That news came less than two months after the companies said they had teamed up to give advisors the ability to easily and efficiently transition clients into JPMorgan model portfolios using 55ip’s automated tax technology.

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