Technology is not only helping advisors with the upcoming regulation but it also gives them an opportunity to grow their client base and manage more assets with greater efficiency
Chatham, New Jersey (PRWEB) November 02, 2016
Digital wealth management technology provider Invessence announced today that it has partnered with PrairieSmarts, an innovative risk analytics firm, to provide risk assessment tools for financial advisors and their clients. Enhancing Invessence’s comprehensive digital wealth platform, the robust risk tools from PrairieSmarts will assist advisors in calculating, documenting and managing the alignment of a client’s risk profile with a compliant portfolio recommendation.
Scalable Research-Based Tool
Leveraging advances in computing power, PrairieSmarts has used a unique methodology to create a scalable, research-based tool which standardizes the risk assessment process throughout the lifecycle of a client -- from the first introductory/prospecting meeting, to investment recommendations, to ongoing client reviews.
“Our software enables the advisor to provide clients with full transparency about their risk, which is a natural trust builder,” said PrairieSmarts CEO Mike Chochon. “With a concise, one-page risk report, advisors can effectively present and communicate risk in five minutes. They can also use the software to create ‘what-if’ scenarios to better align the client’s risk tolerance with the portfolio risk. When clients are better informed it makes for deeper, more lasting relationships with the advisor.”
Documenting For DOL
The new DOL regulation is expected to take effect next April 2017 and it will be critical for financial advisors to document their process when making an investment recommendation for a retirement account.
“Technology is not only helping advisors with the upcoming regulation but it also gives them an opportunity to grow their client base and manage more assets with greater efficiency,” said Jigar Vyas, CEO of Invessence. “Arming advisors with technology that automates time consuming operational and administrative tasks will give them more time to service their clients.”
About Invessence, Inc.
Invessence provides digital wealth management technology (including robo advisory services) that enables asset managers, broker/dealers, and advisors to deliver their investment solutions through a white-labeled platform. The flexible technology provides a dynamic user experience for both the advisor and investor by simplifying the entire investing process – client on-boarding, portfolio construction, record keeping, and rebalancing – into a streamlined online solution. Invessence provides services globally. For additional information, visit http://www.Invessence.com.
PrairieSmarts was founded by financial services industry veterans who share a vision and passion for mitigating risk. Their goal is to help investors and advisory firms find success, and ensure regulatory compliance, by providing them with the most intuitive, advanced and bias-free risk management platform in the world. PrairieSmarts’ mission is to radically improve the way people think and talk about portfolio risk. Their software provides advanced and digestible insights into financial risk using some of the world’s best risk algorithms. To learn more, visit http://www.PrairieSmarts.com.
News Media Contacts: