It's still early days for RISR, a financial planning platform focused on serving business owners, but it's maintaining significant momentum as it strikes a chord with another wealth firm.
The firm announced Thursday that it has struck up a partnership with Great Valley Advisor Group, a registered investment advisor managing $9 billion in assets. The collaboration aims to equip Great Valley’s more than 180 advisors with access to RISR’s platform in order to enhance their advisory services, particularly for business owner clients.
RISR’s platform is designed to help advisors organize and clarify business owners' often fragmented financial data, allowing for more comprehensive planning. By centralizing this information, advisors can offer targeted advice and engage in more strategic conversations with their clients.
Jason Early, chief executive officer of RISR, highlighted the platform's ability to integrate business goals holistically into the broader maps charting the courses of their lives.
“Our platform helps advisors and their clients gain a clearer understanding of how their business aligns with their broader life plans,” Early said in a statement.
The partnership with Great Valley Advisor Group comes at a critical junction as the transfer of wealth from retiring business owners accelerates. Over the next two decades, $10 trillion in assets is expected to change hands, yet 2023 research by PwC estimates only 34 percent of business owners have documented succession plans.
Another study by Edward Jones this year found the top reasons business onwers don't draft a succession plan are uncertainty about the business's future (32 percent), lack of knowledge on where to start (32 percent), and difficulty in identifying a suitable successor (26 percent).
To help address the brewing crisis, RISR’s platform aims to help advisors meet the growing demand for effective succession planning tools.
"Our advisors are eager to ignite deeper conversations with business owners, and RISR empowers them to do that and more,” said James Spinelli, founder and chief operating officer of Great Valley Advisor Group.
Since its launch earlier this year, RISR has formed key partnerships with firms such as Hirtle Callahan, BLB&B, Journey Strategic Wealth and Jacobi Wealth to address the needs of business owner clients,
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
