Product Overview of Riskalyze (Now Nitrogen)
Riskalyze, now operating under the brand name Nitrogen, is a comprehensive risk alignment and wealth management platform designed to empower financial advisors, registered investment advisor (RIA) firms, and independent broker-dealers (IBDs) to deliver personalized and compliant investment advice.
What Riskalyze Does
Riskalyze is built on a Nobel Prize-winning academic framework and is renowned for its innovative Risk Number® feature, which accurately assesses an investor’s risk tolerance and aligns their portfolio accordingly. The platform aims to create a consistent client engagement process, enhance the advisor-client experience, and provide robust compliance analytics to protect and grow financial advisory businesses.
Key Features and Functionality
Risk Assessment and Alignment
- The Risk Number® feature conducts detailed portfolio risk assessments, helping users make informed investment decisions aligned with their risk tolerance. This tool avoids stereotypes and provides accurate results based on scientific theories.
Portfolio Management and Analytics
- Riskalyze offers advanced portfolio analytics, including stress tests that simulate various market scenarios to help clients understand potential risks and rewards. The platform also provides retirement maps, which calculate the probability of achieving scheduled goals and create a roadmap to success.
Compliance and Risk Alignment Tools
- Command Center: This integrated tool allows firms to analyze every holding across their entire book of business, quickly identifying misaligned accounts or households. It features quick searches, flexible filtering, and centralized administration to ensure compliance with regulations such as Regulation BI and the duty of care.
Client Engagement and Reporting
- Riskalyze Elite enables advisors to deliver a consistent client experience, increasing client engagement, satisfaction, and retention. The platform generates printable Investment Policy Statements (IPS) and provides robust reporting and visualization tools to present a clear client roadmap.
Integration and Customization
- The platform integrates seamlessly with multiple external applications, including Redtail, Salesforce, Royal Bank of Canada (RBC), eMoney, and Zapier. It also allows for custom market assumptions, firm branding, and multi-team access control, ensuring the platform can be tailored to meet the specific needs of each firm.
Lead Generation and Meetings
- Riskalyze includes a Lead Generation Questionnaire that acts as an interactive risk analysis tool and a lead capturing mechanism for websites. The platform also supports arranging meetings, recording vital details, and managing all aspects of client interactions.
Advanced Analytics and Visualization
- The platform offers advanced analytics, such as the ability to break down equity exposure within funds and visualize side-by-side portfolio comparisons. These features help advisors provide a more complete story about a client’s portfolio and make data-driven decisions.
Security and Support
- Riskalyze prioritizes data security, ensuring that user information is stored securely with proper privacy protection measures. The platform also offers excellent customer support, with a responsive team committed to assisting users with any questions or concerns.
In summary, Riskalyze (now Nitrogen) is a powerful tool for financial advisors and wealth management firms, offering a holistic solution for risk alignment, compliance, portfolio management, and client engagement. Its advanced features and integrations make it an invaluable asset for navigating the complexities of financial markets and delivering personalized advice.