Risk Tolerance Specialist Tolerisk Integrates with SS&C’s Black Diamond

According to Tolerisk founder and CEO Mark Friedenthal, the newly-announced integration between his company and SS&C’s Black Diamond Wealth Platform will make it easier for advisors to help clients reach their financial goals. The integration will bring sophisticated risk assessment technology to the portfolio management platform, and provide advisors with the ability to more objectively and more comprehensively measure client risk appetites.

“Our focus on providing the best analytical solutions for advisors includes seamless delivery that comes from integrations with leading providers of financial planning, portfolio reporting, portfolio analytics, and CRM technologies,” Friedenthal said.

Specific features of the integration include the ability to post custom notes directly to the Black Diamond Relationship Timeline, as well as client import and mapping functionality to help advisors generate risk assessments and send them to clients quickly and more efficiently. Customers using both systems will be able to leverage additional compatibilities, such as the ability to import client account balances into Tolerisk for faster updating and less manual input.

“Our integration with Tolerisk makes it easy to leverage the power of both tools in a unified way,” Head of Partnerships and Integrations for Black Diamond at SS&Cs Justin Wayne said. “Together, we are empowering advisors to have more meaningful conversations with their clients, which deepens the advisor-investor relationship and provides a competitive advantage.”

Founded in 2014 and headquartered in New Jersey, Tolerisk demonstrated its Tolerisk 401(k) solution at FinovateFall 2018. The feature leverages Tolerisk’s deep analytics and two-dimensional risk tolerance assessment capabilities to offer customized financial planning advice to customers. The company’s technology not only helps identify a client’s risk profile with its Tolerisk Score feature, it also provides critical Probability of Running Out of Money reports to ensure a client’s withdrawal strategy does not diminish available savings at too rapid a rate.

Tolerisk’s Friedenthal was featured this spring in the New York Times article “When Gambling Seems Like a Good Investment Strategy.” Tolerisk began the year with big partnership news, inking deals with Orion Advisor Tech in February and CircleBlack in January.

Finovate Alumni News

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateFall Sneak Peek: Tolerisk

A look at the companies demoing live at FinovateFall on September 24 through 26, 2018 in New York. Register today and save your spot.

Tolerisk pioneered two-dimensional risk assessment and is now introducing Tolerisk 401(k), a tool allowing advisors to provide custom financial planning advice in minutes, not hours.

Features

  • Offers deep analytics and a simple user interface
  • Creates a custom glide path for participant’s asset allocation
  • Eliminates the need for generic target date funds

Why it’s great
Through better technology, advisors can provide 401(k) participants with custom financial planning and investment advice without raising fees or wasting time.

Presenter
Mark Friedenthal, Founder and CEO
Friedenthal combined his experience as a regulator, institutional risk manager and RIA executive to create Tolerisk, the paradigm in fiduciary risk tolerance and planning.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.