Devin J. Garofalo announces Colonial River's adoption of Nitrogen's Risk Number® to deliver clearer risk conversations and better portfolio alignment.
MIDLOTHIAN, Va., Feb. 26, 2026 /PRNewswire-PRWeb/ -- Colonial River Wealth Management announced it has implemented Nitrogen, a risk assessment and portfolio alignment tool used by financial professionals to help evaluate how much risk investors are willing to take and how that compares to the level of risk in their current portfolio.
Built on Prospect Theory, a 2002 Nobel Prize winner in Economics, which is an academic framework that incorporates psychology into economic models and examines aversion to risk through a behavioral lens, Nitrogen helps quantify an investor's tolerance for downside risk and typical portfolio variability as illustrated through a 95% historical range. Financial professionals then build an investment portfolio to provide a more consistent way of discussing investment risk.
"Implementing Nitrogen helps us give clients a clear, objective measure of risk and a transparent plan to meet their goals," said Devin J. Garofalo, President of Colonial River Wealth Management. "This technology strengthens trust, improves decision-making under stress, and allows our advisors to deliver more consistent long-term outcomes for the families we serve."
"Successful long-term financial outcomes are built by investors making one good short-term decision at a time, and that only happens when great financial professionals equip them to do so," said Aaron Klein, CEO at Nitrogen. "It's so great to see Colonial River Wealth Management using the Risk Number to help their clients understand and react to risk appropriately, because that's ultimately how amazing financial professionals turn clients into fearless investors."
Colonial River Wealth Management is an independent advisory firm based in Midlothian, Virginia, offering comprehensive financial planning, investment management, and retirement planning services for individuals, families, and business owners. The firm focuses on personalized advice, disciplined risk management, and long-term client relationships to help clients pursue their financial goals.
For more information, visit colonialriverwealth.com.
Nitrogen is the company that invented the Risk Number®, which powers the world's first Risk Alignment Platform and was built on top of a Nobel Prize–winning academic framework. Financial professionals, broker-dealers, RIAs and asset managers use the Nitrogen platform to create alignment between clients and portfolios, leverage sophisticated analytics to increase the quality of their advice, automate trading and client account management, and access world-class models and research in the Nitrogen Partner Store - all with the mission of empowering the world to invest fearlessly. To learn more, visit NitrogenWealth.com.
Media Contacts FiComm Partners [email protected] (917) 636-4800
Devin J. Garofalo President, Colonial River Wealth Management (804) 335-1200 [email protected]
Securities offered through LPL Financial, member FINRA/SIPC. Investment advice offered through Colonial River Investments, LLC. a registered investment advisor. Colonial River Investments, Colonial River Wealth Management, and Nitrogen are separate entities from LPL Financial.
Media Contact
Media Relations, Media Relations, 1 (415) 326-4475, [email protected]
SOURCE Colonial River Wealth Management
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