Riskalyze is getting into the robo game.
The risk-analytics firm announced Wednesday at the T3 advisor conference in Garden Grove, Calif., a planned roll out in May of an automated account platform built around its widely used “risk number” system.
Called the Next-Generation Autopilot Platform, the service is an upgrade to Riskalyze's stand-alone technology that recommends asset mixes, but leaves implementation to the user.
With the new capabilities, the firm said advisors will be able to automatically generate trades in a variety of products across multiple custodians and accounts, using their own model portfolios or eight Riskalyze models, as well as strategies and products from outside managers.
Initial outside partners are AlphaDroid, Cambria, CLS Investments, First Trust, Longboard Asset Management, Morningstar Managed Portfolios, New York Life Mainstay Investments, SEI Investments, Stadion Money Management, State Street Global Advisors and Swan Global Investments. American Funds and Blackrock were expected to be added soon.
Pricing is 15 basis points with no minimum, dropping to 10 basis points once an advisor has $5 million enrolled on the platform, plus fees some of the third-party strategists may charge.
Riskalyze integrates with Schwab, Fidelity, TD Ameritrade, Pershing and Trust Company of America.
In an interview, Riskalyze chief executive Aaron Klein declined to guess how much uptake the firm might see from its new service, but he noted that the six-year-old firm has already acquired 19,000 advisor users.
“We're trying to make it so easy to tap into that it will just make sense” for advisors to use, he said.
The firm on Wednesday also announced an enhanced offering of its existing Riskalyze Pro service, called Riskalyze Premiere. The new offering adds risk scoring for retirement plans, synchronization of outside assets and data sharing for advisor teams. Cost for the Premiere service is $245 per month per user.