Single sign-on and deep integration will allow advisors to create and implement proposals for client portfolios across the two platforms
Today, Riskalyze announced its expanded integration with Envestnet, Inc. (NYSE: ENV), allowing advisors to create proposals for asset allocations through a single sign-on between the two platforms. Advisors will be able to use Riskalyze to generate Risk Numbers® for their clients, build proposals using the Risk Number, and implement those proposals directly into the Envestnet unified advice platform.
“The upcoming integration with Envestnet furthers Riskalyze’s mission to empower the world to invest fearlessly and give advisors flexibility and choice in how they deploy solutions for their clients,” said Bob Dimicco, SVP Engineering and Product at Riskalyze. “This year has shown us that understanding risk is a critical part of the advisor-client relationship, and with this seamless integration, we’re collectively aiming to simplify an advisor’s proposal workflow and allow for greater efficiency and productivity.”
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Advisors using Riskalyze can create proposals by comparing a client’s Risk Number with the risk of their current portfolio, and identifying which adjustments need to be made based on this comparison. In order to implement that proposal, advisors will be able to easily pull their client’s current portfolio from Envestnet and update the portfolio allocation. Previously, the information would be pulled and uploaded manually by the advisor, but now the data will be automatically integrated into Riskalyze from Envestnet.
“Riskalyze and Envestnet share a common mission to help advisors advance their practices, and bring their clients closer to financial wellness—and we couldn’t be more excited to deepen our relationship further,” said Blake Wood, SVP, Director of Product Strategy at Envestnet. “This integration will allow advisors harnessing our unified advice platform to create seamless portfolio proposals addressing more areas of a client’s overall financial life—and spend more time on ways to strengthen their client relationships.”
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The integration will also complement Riskalyze’s existing MyBlocks™ integration with Envestnet | MoneyGuide, which displays a client’s Risk Number alongside the other Blocks available on the MoneyGuide platform.
The companies expect to make the new integration available to enterprise clients starting later this year.
