Advisor technology company Riskalyze has launched a new retirement mapping tool that allows planners to go beyond finding ‘true north’ for their clients to calculating a financial path to retirement with extremely high probability.
Riskalyze recently released Retirement Maps, technology billed as the “next big innovation” for its ability to instantly calculate a client’s financial path to retirement with 95% probability. A previous offering by the tech company is the invention of the Risk Number, which gives advisors a way to pinpoint how much risk a client can handle in his or her portfolio.
“After pinpointing a client’s risk tolerance and engineering the portfolio, advisors want a fast, simple way to quickly determine if the portfolio will really work, but to date, the only options have been notoriously slow and inefficient,” said Riskalyze CEO Aaron Klein in a blog post announcing the new tool.
Retirement Maps is an interactive way to build a map for a client’s retirement path in real time, explains Riskalyze. The tool can discover “held away assets” and open up discussions to grow assets under management, Klein said.
“Advisors would tell me, ‘I love being able to find true north for my clients and align their portfolio with their risk tolerance, but after I do that I have to use a spreadsheet to make sure they can reach their goals by investing that way. I want you to make it push-button easy for me to figure that out,'” he said. “That was a great idea—and we decide to take it to the next level.”
Written by Alyssa Gerace