401k advisors have another high-tech tool at their disposal with today’s announcement that Riskalyze has integrated with FP Alpha, an artificial intelligence-driven, holistic financial planning solution, to bring the best of both of these platforms together to improve the quality of financial advice delivered while streamlining workflows to drive greater efficiencies.
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.
FP Alpha enables advisors to upload clients’ financial documents: wills, trusts, tax returns, and insurance policies to instantly summarize the data, identify actionable and personalized planning opportunities, and then quantifying the value of the advice to clients and prospects. With 40 subject matter experts including estate attorneys and insurance specialists, FP Alpha offers comprehensive financial advice spanning a person’s life.
“As we continue to push the boundaries of the quality of services financial advisors are capable of offering their clients, an integration with Riskalyze enhances our comprehensive, AI-driven financial planning,” said Andrew Altfest, CFP, Founder and CEO of FP Alpha. “Our financial advice is complementary to current retirement planning software because we wanted to touch as many people’s lives in a holistic manner as possible.”
The integration allows instant client import and transfer, along with client information search between FP Alpha and Riskalyze. Utilizing Riskalyze’s Risk Number and FP Alpha’s proprietary algorithms to combine a client’s financial information across 16 planning disciplines with investment information, the integration will both automate the process and improve the quality of advice through artificial intelligence and machine learning to reduce a person’s financial life risks, or potential perils in many financial categories that impact their life.
“I was amazed at what I saw from FP Alpha this year at the Fearless Investing Summit and couldn’t wait to begin an integration with them,” said Aaron Klein, Co-Founder and CEO at Riskalyze. “We’re so excited to add the impact of the Risk Number to FP Alpha. We hope this will help raise the bar for the level of financial advice that investors require of their advisors.”
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Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
