By Vasyl Soloshchuk, CEO and Co-Owner at INSART

Website:

Totumrisk.com

Key dates:

2015 Totum Wealth established

2017 Company rebranded to Totum Risk and changed its focus to risk scoring

Clients

Financial Advisors, Custodians, IBD’s, Wirehouses, Banks, Insurance firms

Value proposition

Risk tolerance questionnaire based on academic quantitative models that provide the advisor with a compliance score

Senior management

Mark Cone, Co-founder and Managing Partner

Larry Shumbres, CEO

Up until now, all risk tolerance questionnaires were based on risk preference, or how much risk a person wants to take. Totum Risk is different. Their product also scores how much risk a person can take based on their current life situation, which is called risk capacity. Using algorithm-based quantitative models that are accurate enough to hold up in arbitration, these 2 scores are weighed against the client’s current portfolio to assist the advisor in selecting the right portfolio mix.

We talked to Larry Shumbres, CEO of Totum Risk, and found out what makes their approach unique.

Larry became CEO of the company in September 2017. His previous experience includes 20 years working for such companies as IBM, Morningstar, Charles Schwab, Emoney Advisor (acquired by Fidelity Investments), and eVestment (acquired by Nasdaq).

At Totum Risk, Larry is providing new technology and bringing in aspects such as artificial intelligence (AI) and blockchain.

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