The latest news about technology products and services relevant for wealth managers around the world.

Envestnet | MoneyGuide, which created financial planning software called MoneyGuidePro®, has unveiled an integration – or “block” - enabling advisors to pinpoint an investor's “risk number” so that they can build portfolios suiting clients’ tolerances.

The firm has announced a MyBlocks integration with Riskalyze - the company that invented the Risk Number®. 

“This integration further expands the range of topics advisors can discuss with investors, or even allow for them to explore on their own, within the MyBlocks ecosystem,” Kevin Hughes, chief growth officer at Envestnet | MoneyGuide, said. 

The newly-released block will walk the investor through the Riskalyze questionnaire assessing a client’s Risk Number and then import it into MoneyGuide’s platform as a risk tolerance score. The advisor can then assign a risk score for the entire household, helping them to adjust a client’s financial plan.

Envestnet | MoneyGuide released MyBlocks in July.

RIA in a Box
RIA in a Box, a provider of compliance, cybersecurity, and registration software for the wealth management industry, has widened its partnership with Riskalyze to launch what it calls its Client Suitability Tool. The launch expands the firm’s MyRIACompliance software platform. 

The tool enables advisors and firms to conduct, track, and document the client suitability and portfolio review process.

By looking at the MyRIACompliance dashboard, individual advisors can easily identify if a client has been assigned a Risk Number® and if their portfolio fits with it or not. Advisors are prompted when they need to bring a portfolio back in line with a client’s risk profile – a major issue amid regulatory focus on client suitability.

d1g1t
d1g1t, a Toronto financial technology business, said it has been chosen by a newly-formed multi-family office for its advisory platform.

Forthlane Partners, the MFO which is also based in Toronto, Canada, was launched by Robert Williams and Ken Grewal. The MFO offers strategic wealth planning and asset administration, global investment management, family education and engagement, and private markets investing.

The d1g1t platform helps Forthlane with tasks such as client onboarding, KYC reviews, goals, mandates and IPSs, as well as multi-asset, multi-currency portfolio management. The firm also provides the its clients with a web portal and mobile app, available in native iOS or Android formats.