ATLANTA SEPT 18, 2018 – Totum Risk, a risk tolerance tool that calculates risk based on an investor’s current life situation, not just preference for risk, today announced their integration with SS&C’s Black Diamond® Wealth Platform.
Black Diamond advisors using Totum Risk benefit from a more robust, multi-dimensional risk assessment of their clients’ investment goals and objectives. Totum Risk leverages machine learning and PhD-backed algorithms to ensure more accuracy in the scoring of their clients’ holdings and portfolios.
“We are committed to embracing technology that enhances the client experience and improves outcomes. By integrating Totum Risk with Black Diamond, we provide a solution that gives advisors a holistic view of their client’s true risk tolerance so they can develop targeted investment strategies,” said Steve Leivent, Senior Vice President, Advisory, SS&C Advent.
The Black Diamond Platform is an award-winning portfolio management system and client reporting solution for financial advisors and wealth managers. Black Diamond strengthens connections with clients and prospects while managing relationships with more than 1,300 advisors, wealth managers, IBDs and aggregators. Black Diamond looks ahead at industry changes by providing a purposeful suite of tools from portfolio management to reporting to client communications and more that allows advisors to manage their client’s complete wealth picture.
“The advantage of working with a tool like Totum Risk is that it allows you to check not only a client’s preference for risk, but also how much risk they’re able to take given their current life situation. The biggest challenge when dealing with a client is finding out their true tolerance for risk. That answer lies much deeper in the weeds than picking a few answers based on a hypothetical scenario. Having multiple points to reference around a client’s capacity and tolerance tends to give both the advisor and client more information to build a plan around,” said Kane McGukin, Wealth Advisor, Lakeview Capital Partners.
ABOUT SS&C TECHNOLOGIES
SS&C is a global provider of investment and financial software-enabled services and software for the global financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut and has offices around the world. Some 13,000 financial services and healthcare organizations, from the world’s largest institutions to local firms, manage and account for their investments using SS&C’s products and services.
ABOUT TOTUM RISK
Totum provides a unique risk tolerance tool that enables financial advisors to create a more accurate investment strategy, which leads to improved client acquisition and retention. Totum is the only financial technology platform that utilizes robust, proprietary risk scoring algorithms to calculate two risk scores- Risk Preference, or how much risk a client wants to take, and Risk Capacity, or how much risk an investor can take given their current life situation. These two scores are then weighed against the investor’s current (or model) portfolio and presented in an easy-to-read line graph with the Risk Band, Totum’s proprietary metric defining the space between Risk Capacity and Risk Preference, clearly defined. For more information, visit www.totumrisk.com or follow the company on LinkedIn and Twitter.