FinMason, an investment analytics provider that enables WealthTech platforms to accelerate development and time-to-market, announced that it has partnered with Covisum, a financial technology company enabling thousands of advisors to provide better answers for retirees and pre-retirees. Covisum will leverage FinMason’s robust analytical engine to calculate and deliver their heavy-tailed proprietary risk analytics at scale.
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“The needs of our clients are ever-evolving, and we are constantly searching for partners to help us better serve those needs,” said Joe Elsasser, CFP, Founder and President of Covisum. “FinMason’s expansive universe of available securities and highly-scaled calculation environment make them an ideal partner for hosting our proprietary risk analytics.”
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Covisum’s financial planning software suite includes Income InSight, Tax Clarity, Social Security Timing, and SmartRisk. With any combination of Covisum software, subscribers receive access to expert support, actionable client reports, and growth-oriented practice management and marketing resources that align with the subscription. The solutions are available via individual subscriptions, as well as through enterprise-level agreements.
“The Coronavirus pandemic highlights a basic problem with using simple standard deviation as a risk measure. It just does not capture the potential for large losses in the equity markets,” said Kendrick Wakeman, CEO of FinMason. “Covisum’s heavy-tailed risk model is designed to capture these extreme movements and give investors a more accurate view of risk, particularly over the short/intermediate term. We are delighted to help Covisum deploy this calculation to investors via our award-winning calculation platform.”
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