Davis Janowski covered the incredible advantages that Riskalyze Pro is bringing to investment advisors in today’s technology column for Investment News.
Riskalyze Inc. has rolled out a professional version of its free risk assessment and analysis tool for investors that I foresee garnering a lot of interest from financial advisers.
Interestingly, it was really a number of advisers using that investor-focused version in a roundabout way with their clients that formed the genesis of Riskalyze Pro (pro.riskalyze.com), which was launched seven weeks ago.
Simply put, an adviser sends an online questionnaire to a client. The questionnaire takes no more than 10 minutes to complete and is tailored to look as if the adviser’s firm devised it.
The investor is asked a series of simple questions with multiple-choice responses. Some have built-in logic that expands to ask more questions, if necessary.
Taking the inputs, Riskalyze quantitatively measures a client’s risk tolerance using the system’s proprietary algorithm. It then reports back to the adviser, who can generate any of several reports — some for meetings with clients or prospects, others for the compliance file.
We’re very bullish on investment advisors and their value to the investing process over the long term. It’s exciting to be a part of equipping them for this next wave of change in how the world invests its money.