With Covisum’s newest technology acquisition, you’ll be able to estimate a client’s portfolio risk, show them in a concise report and help their bottom line.
Covisum has acquired a powerful risk management platform called SmartRisk — a move that expands its suite of retirement planning tools and moves it closer to unveiling a singular web-based platform later this year.
Covisum acquired the platform from PrairieSmarts, a company founded in 2013 by financial services veterans with a vision of helping more people understand and manage the risk in their portfolios. Using some of the world’s best risk algorithms, PrairieSmarts’ SmartRisk platform provides financial advisors advanced and digestible insights into financial risk with a concise portfolio risk summary.
The addition of the SmartRisk technology to the Covisum suite of retirement planning tools benefits you in several ways. Subscribing to SmartRisk later this year will enable you to:
- Expand your expertise from Social Security and the impact of taxes on retirement income withdrawals to portfolio risk
- Answer client questions, such as:
- “How much can this portfolio lose during a really bad month?”
- “Am I getting compensated for the risk taken?”
- “Am I diversified?”
- “How would this portfolio react if the market crashed?”
- Effectively estimate clients’ risk, potentially helping them avoid behavioral mistakes — and that significantly impacts their bottom line
Covisum President Joe Elsasser, CFP®, said that from the initial conversation with PrairieSmarts, it was clear that their team and Covisum’s team share a vision to help advisors grow and enhance their practices.
“Both firms realize that having solid analytics matters,” Joe said. “PrairieSmarts is estimating risk with academic rigor in a way that adds real perspective to a client’s portfolio. Couple that with essential Social Security and tax software, and the recommendations an advisor is able to deliver can translate into significantly greater value to the advisor’s client.”
The addition of SmartRisk is just the latest evolution of the Covisum brand. In 2016, Covisum rebranded from Social Security Timing® to better reflect its broader software and service offerings. PrairieSmarts’ SmartRisk will join Social Security Timing and Tax Clarity™ as Covisum’s core product offerings. The PrairieSmarts brand will continue to operate through much of 2017, after which their solutions will continue to be available on the Covisum platform.
In our last Covisum newsletter, we introduced you to Ron Piccinini, Ph.D., who recently joined our team as director of product development. Ron is a co-founder of PrairieSmarts.
“It was a natural fit, because Covisum shares PrairieSmarts’ passion and dedication to developing tools built on high-quality analytics,” Ron said. “I’m really excited to bring our risk expertise to Covisum subscribers and to work together to roll out our upcoming retirement income planning tool in the coming months.”
If you are interested in learning more about SmartRisk, Social Security Timing or Tax Clarity, contact us at 877.844.7213 or firstname.lastname@example.org.