Riskalyze Announces "Regulation Best Interest" Solution at F
AUBURN, Calif., Jan. 27, 2020 /PRNewswire/ -- Riskalyze today announced brand new functionality and workflows as upgrades to its Riskalyze Select and Elite products to help financial advisors and wealth management enterprises address all four components of the new Regulation Best Interest (Reg BI) rule that is expected to take effect later this year. Riskalyze gives advisors the ability to assess client risk tolerance, build a proposal through a proprietary Reg BI-compliant workflow, attach and document the delivery for Form CRS with those proposals, implement them via Trading Automation, and give home offices visibility into the process with a configurable enterprise dashboard.
This solution helps wealth management enterprises comply with all four components of the new regulation, including:
"The vast majority of advisors and enterprises that we serve are already compliant with most of Reg BI, and their use of Riskalyze puts them on third base when it comes to complying with the toughest part of the rule – the standard of care," said Aaron Klein, CEO at Riskalyze. "We're thrilled that several major wealth management enterprises have chosen Riskalyze to solve their Reg BI challenges, and we look forward to implementing this on time for our enterprise partners."
These expanded compliance solutions are timely given the SEC's June 30 deadline, after which it will start enforcing the Reg BI compliance with no grace period. However, even without the regulation in effect, these new workflows will allow every advisor to achieve what is a best practice anyway — demonstrating care for clients while educating and informing them about their decisions.
"We're thrilled to partner with wealth management enterprises who believe in our mission to empower the world to invest fearlessly," said Drew DiMarino, Chief Growth Officer at Riskalyze. "With Riskalyze, these organizations can better empower advisors to know the client, know the recommendations being made, and holistically align them both."
Riskalyze's announcement coincides with the FSI OneVoice Annual Kick-off conference in San Diego, CA – where Riskalyze will be available at booth number 205.
To learn more about Riskalyze's Reg BI solution, visit: www.riskalyze.com/reg-bi
Riskalyze 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. Advisors, broker-dealers, RIAs and asset managers use the Riskalyze 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 Riskalyze Partner Store — all with the mission of empowering the world to invest fearlessly. To learn more, visit riskalyze.com.
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