Nitrogen

Pros

The risk questionnaire allows me to be a true fiduciary advisor and know my client and their risk tolerance so much better than any other platform. Now that I understand what kind of investor my client is, I can execute flawlessly using Autopilot to apply models and portfolio changes that get routed to my block desk (crucial to make sure all clients on getting best execution).

Cons

It's hard to do any trading close to the end of the trading day and get same-day execution (which is not a big deal). The price is high, however since I get risk tolerance, research/stats plus autopilot, I save tons of $$ by not having to purchase other software.

Pros

Risk assessment while combining the clients assets and risk tolerence.

Cons

My problems is with the predictor contract, You can't get out of it but for thirty days a year. If you miss the thirty day window you are stuck paying another four thousand dollars until next year. They will not help you.

Alternatives Considered

Reasons for Switching to Nitrogen

Pros

The (incorrect) reports look nice, although the data shouldn't be presented to clients as it's backward-looking

Cons

Data is not correct, and can be a problem to put in front of clients if presented as a true risk tool. Tried communicating this to Nitrogen. There is no professional investment team to discuss this with. Which, since this is a risk and investment tool, is highly problematic.

Long-term contracts will stay locked in even if you use the tool. Doesn't matter how much you try to communicate, they'll basically tell you they have you locked in and there's nothing you can do about it.

Pros

First, the Risk Questionaire within Riskalyze identifies how much a prospect's/client's risk tolerance (a.k.a. Client's Risk Number) is based on a series of questions. Next, after entering the ticker symbols/CUSIPs (or uploading them via an excel spreadsheet), that prospect's/client's RN can be compared to the actual risk they're taking in their investments to determine if they're taking too much, the right amount or not enough. Riskalyze allows you to enter your firm's allocation models, as well as, put together proposal recommendations displaying them side by side with their current portfolio for comparison. You can also send check-in emails to follow up with clients and prospects to keep in touch. Riskalyze has a simple to use reporting feature allowing you to download and print very professional looking reports for presentations/deliverables.

Cons

One suggestion would be to add more international Stocks, I've found that if the company is not in the United States it may not show up in Riskalyze.

Pros

Riskalyze saves me so much time! Within seconds, I can sych my client's accounts from my broker/dealer and begin my strategic planning process. I can then analyze my client's portfolio, individual accounts, and specific securities immediately.
Riskalyze makes my life easier by providing effortless statistical analysis such as historical performance, stress testing, and risk/reward heat mapping.

Cons

I wish the Retirement Map component offered a Monte Carlo simulation. To me, this would complete the risk proposal by adding a tool capable of assessing the risks of achieving long-term retirment success.

Pros

The Risk Questionnaire is well thought and is easily emailed to clients. Scores in realtime.

Cons

They sold our firm on the fact that because we already using one of the fund partners the Autopilot license along with additional licenses (which we didn't need or request) at the time would be free. Year later, when the preferred fund manager pulled out (because there fee went up) they held us to pay the full monthly amount on the contract due which increased by roughly $1300 per month. We felt like they pulled a fast one on us. There response was to deduct the Autopilot license which was $500 per month, helpful but they still gigged us for $800 per month. Be very cautious subscribing to more than just the risk questionnaire. The rest of the technology and service behind it sucks.

Pros

Having a platform that help simplify risk management as well as helping client understand risk in a easier format.

Cons

I feel this business has lost its way regarding customer service; they renewed my account at a 45% increase, picked a new plan for me, and changed my request to deal via phone to email. This became known to me when I inquired about the increased charge and was informed that they emailed me four times in March to discuss. I told them that I had recently moved my practice from Florida to Tennessee during that period and was in my blackout period, awaiting my license to transfer. They did not try to reach out in April or May to confirm that I was on board; instead, they just let their changes go through. Now they are not working with me to try to make things right but would instead leave on this fraud contract at the end

Pros

This program is been great from the client perspective of the easy to understand risk measurement and the quick online questionnaire that you can either email or do on sight. It is VERY helpful on the Compliance side since the number is based on a client approved questionnaire that uploads into our CRM.

Cons

They have tried to get into asset trading and asset analysis. Stay in your lane and do what you do VERY well instead of trying to do more than your competency is suited for in my opinion.

Pros

Riskalyze makes it easy for clients to deduce their risk tolerance through the Quiz offered, and also assess the risk number of their overall portfolios and individual investments. It's a great tool for presenting clients with a digestible breakdown of their current accounts. I also like that we can create proposals for recommended investments or models so that the client has something tangible.

Cons

This software can be extremely slow. It may take several minutes to load one page on occasion.

Pros

Ease of use for the prospect or client. The fact that we can deploy a link out to someone that we are reviewing or onboarding is key. Within a few clicks, a link is received and what I value the most is that all we are asking of the other person is 3-5 minutes and what we get back is an invaluable gauging and communication tool in that moment and going forward.

Cons

There is very little to criticize about this software and especially as it relates to how we utilize it. Some more integration features with other planning software would be handy I suppose!

Pros

Ease of use and simplicity of what clients see for both portfolio reviews and long term planning

Cons

the cost is a bit high, though not sure a comparable product is any less.

Pros

Easy to use for advisors. Reports are understandable.

Cons

The coin toss risk scoring questionnaire is not easy for clients and came up with vastly different risk scores than other risk scoring methods I have used. The disparity is so great that I do not trust Riskalyze methodology. Riskalyze charged me for a month of service I didn't use when I cancelled my service.

Pros

This product helps me set up investments for clients that meet their objectives and investment attitude in an easy to use format. Clients appreciate and understand it quite easily. Integration with existing software is very easy.

Cons

I have not found anything to not like about it.