Custom integrations enable comprehensive advisor oversight, compliance standardization & a new level of client experience for the enterprise organization.
MARLTON, NEW JERSEY, June 21, 2023 — Tolerisk, a leader in analytical risk tolerance assessment tools, announces a custom integration with WealthSource Partners, a full-service, national, independent registered investment advisory firm.
Tolerisk’s software enables a two-dimensional approach to risk assessments, not only quantifying an investor’s willingness to accept investment risk, but also assessing their ability to take on risk in a scientific manner. The tool allows financial advisors to objectively measure their clients’ risk tolerance and understanding of the probability of outliving their money to empower better planning and increase client confidence.
“We wanted to build out a platform that enabled all of our systems to work seamlessly together while empowering the fiduciary process across our advisors,” said Jason Mirabella, Chief Operating Officer at WealthSource. “When we looked at the risk tolerance landscape, Tolerisk stood out as a tool that would not only allow us to scientifically and accurately analyze risk and evaluate portfolios, but also aggregate that data between our CRM and client-facing experience solution. They’ve proven to be a true partner in bringing our fiduciary vision to life.”
To meet the national firm’s needs, Tolerisk developed several customized integration capabilities, including making API endpoints available to smooth out data entry, capture and flow between systems for WealthSource’s advisors. Tolerisk also enabled WealthSource to link outside data sources for portfolio composition by enhancing their existing integration with Orion, allowing WealthSource advisors to bring in and score current account holdings.
Tolerisk also accelerated several items on their product roadmap, building an innovative comparison functionality that enables advisors to score a client’s current portfolio in comparison with the risk directive selected by the client or recommended by the advisor. With the ability to track this data, WealthSource can now better ensure that recommendations made by its advisors are in the best interests of its clients and in line with its fiduciary duty.
“We’re excited to be able to develop the risk tolerance solutions that empower WealthSource to maintain their fiduciary standard across their entire book of advisors,” said Tolerisk founder Mark Friedenthal. “WealthSource’s commitment to acting in the best interests of their advisors and clients by standardizing compliance mirrors our own dedication to consistently delivering best-in-class analytical capabilities that enable advisor and client to work more confidently together toward client goals.”
To learn more about Tolerisk, visit https://www.tolerisk.com/.
Headquartered in Marlton, N.J., Tolerisk® is an analytical risk-tolerance assessment tool used by all types of financial professionals to help their clients figure out how much risk to take in their investment portfolio as well as the probability that they’ll outlive their money. For more information, visit https://www.tolerisk.com/.
About WealthSource Partners
WealthSource Partners is a full-service, national, independent registered investment advisory firm. The firm’s partnered independence platform serves entrepreneurial advisors who are eager to grow, and to do so on their own terms. Supported by an experienced practice management, marketing and operations team, WealthSource Partners empowers advisors to focus on their niche and the unique elements of their practice. Through the Advisor Platform Management Office (AdvisorPMO), WealthSource’s robust practice management and marketing platform, advisors can simplify their day-to-day and offload non-client-facing activities to spend more time serving clients and engaging prospects. For more information on what WealthSource is building, please visit wealthsource.com or contact us at firstname.lastname@example.org.