Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.
Products June 6, 2016
ProTools and Pershing Reveal RiskPro Compliance Tool
“RiskPro will help ensure that advisers build
portfolios that are in their clients' best interests, as required by the new
DOL rules,” says Nick Scalzo, chief executive officer at ProTools.
Reported by John Manganaro
ProTools and Pershing have partnered to release “RiskPro,” a risk profiling and portfolio construction system that helps advisers build and manage portfolios in a way that complies with the Department of Labor’s (DOL) forthcoming fiduciary regulations.
According to Nick Scalzo, chief executive officer at ProTools, RiskPro is being made available to Pershing’s clients through the NetX360 solution. The tool was “designed by financial advisers and built by leading ‘econometricians’ … helping advisers improve the investor experience while complying with their fiduciary responsibility.”
Using the tool, advisers can convey risk in simple terms clients understand; build portfolios mathematically aligned to clients’ personal risk budgets; and work to mitigate the risks associated with fiduciary liability under the Investment Advisor Act and the new DOL rule.
Clients of Pershing can receive all the compliance and adviser benefits of this system at no additional cost unless it requires specific customization, according to the firms. More information for advisers is at www.riskproadvisor.com/pershing.