FinFolio adds electronic trading to Autopilot, Riskalyze’s Automated Account Platform. Straight-through processing will be available to Royal Bank of Canada clients in Q1’18 and to Riskalyze’s other 20,000 clients in the months to follow.
GREENWOOD VILLAGE, CO, February 08, 2018 /24-7PressRelease/ — FinFolio and Riskalyze have partnered to add electronic trading to Autopilot, Riskalyze’s Automated Account Platform. Straight-through processing will be available to Royal Bank of Canada clients in Q1 2018 and to the many of Riskalyze’s other 20,000 advisor clients in the months to follow.
Autopilot is a multi-custodial automated account platform that allows advisors to build model portfolios, assign models to client accounts and automatically generate trades across multiple custodians to deliver both personalization and scalable automation. Advisors can build their own portfolios from scratch or leverage research from the Autopilot Partner Store.
The FinFolio trade engine enables electronic trading over the FIX network for all Autopilot trades. This means trades will be completed quickly within seconds, giving immediate feedback and allowing advisors to make quicker decisions. Autopilot supports models using ETFs, mutual funds, and stocks.
“It has never been easier for an advisor to put the hassles of their business on Autopilot and spend more time focusing on their clients,” said Aaron Klein, CEO at Riskalyze. “We’re thrilled that FinFolio shares our commitment to bringing advisors further out of the manual trading layer and up into the fiduciary layer.”
After approving the trades, advisors can push them into straight-through processing, resulting in a simplified operational workflow, better efficiency and improved accuracy. Another advantage of using FIX connections for routing trades is that executions can be received and acknowledged intra-day. That means the advisor dashboard can be updated with order statuses in electronic trading.
“The FinFolio API is a unique offering to wealth managers and fintech companies in this space, allowing you to add functionality as needed from our tool kit.” said Matt Abar, CEO of FinFolio. “Riskalyze has an amazing product and implementing electronic trading is a huge win for their advisors. This was a great fit and we look forward to expanding our partnership.”
Riskalyze is the company that invented the Risk Number, which powers the world’s first Risk Alignment Platform, empowers advisors to automate client accounts with Autopilot, delivers the first risk-centric 401K experience with Riskalyze Retirement Solutions, and enables enterprises to develop real-time visibility, increase revenue, spot issues and navigate changing fiduciary rules with Compliance Cloud. Advisors, broker-dealers, RIAs, asset managers, custodians and clearing firms use the Riskalyze platform to empower the world to invest fearlessly. To learn more, visit riskalyze.com.
FinFolio develops and supports an extensible wealth management software platform for financial professionals. FinFolio has embraced an expanded definition of portfolio management which includes a REST API (wealthlab.io), trading, rebalancing, billing, reporting, client data distribution and all other elements of a financial adviser’s back office. FinFolio’s clients include investment advisers, financial planners and other wealth managers. For more information about FinFolio visit www.finfolio.com.
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