Riskalyze today expanded its existing enterprise agreement with Independent Financial Partners (“IFP”), a broker-dealer and registered investment advisor managing $6 billion in assets. Through this agreement, IFP will switch from a file-based system to a multi-custodial FIX connection – implementing their access to Riskalyze’s Connected Trading platform and creating a more seamless experience for their 250 advisors.
Riskalyze’s Connected Trading will provide IFP advisors – working with custodians such as BNY Mellon | Pershing, Fidelity Investments, TD Ameritrade, and Charles Schwab – with an end-to-end trade automation platform, eliminating the need for spreadsheets, file uploads and manual account allocations at each custodian.
“At Riskalyze, we’re committed to empowering advisors with tools that can make their practice more productive and help them focus on building long-lasting client relationships,” said Aaron Klein, CEO at Riskalyze. “Riskalyze’s continued partnership with IFP will enable us to provide advisors with resources that can save them both time and money, while managing their investment portfolios during today’s unpredictable climate.”
IFP advisors will also have access to Riskalyze’s updated software, including the new tax optimization features that the company announced last month. The proprietary trading optimization engine now allows advisors to set a capital gains budget for a client easily. The technology runs millions of scenarios to determine precisely how many shares of each tax lot gets the client as close to their Risk Number® target as possible, all while staying under budget.
“2020 has shown the importance and value of premier technology, not only to the financial professional, but to their clients as well,” said Greg Wozniak, Director, Advisor Experience at IFP. “Riskalyze’s incredible technology roadmap, and the speed at which they are bringing technology to market is not only impressive but demonstrates their desire to be best in class. We are excited to offer this technology so advisors can better serve their clients and make their practices more efficient.”