Riskalyze has introduced four enhancements to its product lineup to help advisors prepare for the June 30 onset of the SEC’s Regulation Best Interest (Reg BI).
The enhancements include report attachments, new portfolio stats, tax-aware trading and a new portal for enterprise clients, according to a company announcement published earlier in June.
"We're delighted to deliver functionality that serves such a broad swath of today's Riskalyze customers," said Mike McDaniel, chief investment officer at Riskalyze, in released comments. "While these new features are certainly poised to better help firms comply with Reg BI, we think their overall impact across the profession will far surpass their compliance benefits."
Report Attachments available via Riskalyze Select will help advisors and firms ensure they remain compliant with Reg BI’s disclosure requirements by attaching the Client Relationship Summary (Form CRS) to all client-facing reports. Report attachments will also allow advisors to customize reports.
In Riskalyze Elite, the next tier of Riskalyze’s risk and analytics platform, Detailed Portfolio Stats now include new analytics and widgets to analyze portfolio compositions and demonstrate the impact of potential changes to the portfolio.
Riskalyze’s Autopilot Trading, an automated trading platform, now also includes “Tax-Intelligent Trading” that provides advisors with an analysis of tax liabilities in a trade and allows them to optimize trades for a combination of maximum accuracy and minimal tax impact.
Riskalyze’s new Enterprise Cloud helps firms centralize their technology, making available to home offices information about configuration, compliance data and business intelligence.
The new features in Select, Elite and Autopilot Trading will be rolled out to all applicable users in the next two weeks, according to Riskalyze, while the Enterprise Cloud is already being deployed at six firms and will be rolled out in phases to other eligible enterprise clients.