- LPL Financial’s Vendor Affinity Program is a new initiative designed to help advisors reduce the complexity and costs of running their businesses
- Riskalyze is revolutionizing the way people invest, by aligning the world’s investments with each investor’s Risk Number
Riskalyze, the company that invented the Risk Number™ for financial advisors and their clients to use to align risk preference with portfolio risk, today announced its selection for inclusion in LPL Financial’s recently launched Vendor Affinity Program. LPL is the nation’s largest independent broker-dealer.
The Vendor Affinity Program is a new initiative designed to help advisors reduce the complexity and cost of running their businesses. The program offers a centralized repository of vendors who have been reviewed by LPL and that have agreed to provide their products and services to LPL advisors at discounted prices.
“We are very excited to be part of the first tranche of providers to be included in LPL’s Vendor Affinity Program,” said Aaron Klein, CEO at Riskalyze. “We appreciate LPL’s recognition that so many of their advisors are already using the world’s first Risk Alignment Platform to show prospects they’re invested wrong, and prove to clients they’re invested right.”
53% of investors in the 20-29 and 70-79 age groups are inaccurately served due to age-based risk tolerance stereotypes. The Risk Number’s quantitative approach allows advisors to find “true north” for their clients and design portfolios accordingly. The data clearly shows that investors who are invested outside of their risk preferences sell when markets are down, buy when markets are high, and consistently achieve poorer outcomes than if they had the ability to stay invested for the long run.
“For our advisors, technology solutions drive some of the greatest impact to the operational efficiencies of their practices,” said Victor Fetter, LPL managing director and chief information officer. “Understanding that, we are excited to be able to connect our LPL clients with providers such as Riskalyze, which shares the same belief as LPL that by simplifying and streamlining their operations, they can spend more time with clients to help them to reach their financial goals.”
For more information about Riskalyze, visit www.riskalyze.com.
Riskalyze is the company that invented the Risk Number™, the first-ever quantitative way to capture client risk tolerance, align portfolios to client expectations, and quantify the suitability of investments. Riskalyze was named one of the world’s ten most innovative companies in finance, and advisors use the platform to manage $90 billion in assets. To learn more, visit www.riskalyze.com.
About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc., is a leader in the financial advice market and serves $486 billion in retail assets. The Company provides proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 14,100 independent financial advisors and more than 700 banks and credit unions. LPL Financial is the nation’s largest independent broker-dealer since 1996 (based on total revenues, Financial Planning magazine, June 1996-2015), is one of the fastest growing RIA custodians with $112 billion in retail assets served, and acts as an independent consultant to over an estimated 40,000 retirement plans with an estimated $120 billion in retirement plan assets served, as of June 30, 2015. In addition, LPL Financial supports approximately 4,300 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms, and technology solutions. LPL Financial and its affiliates have 3,385 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.