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,
Despite a lighter regulatory outlook and staffing disruptions at the SEC, one compliance expert says RIA firms shouldn't expect a "free pass."
FINRA has been focused on firms and their use of social media for several years.
RayJay's latest additions bolster its independent advisor channel's presence across Pennsylvania, Florida, and Washington.
The deal ending more than 30 years of ownership by the Swiss bank includes six investment strategies representing more than $11 billion in AUM.
Divorce, widowhood, and retirement are events when financial advisors may provide stability and guidance.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
