LPL Financial’s digital platform ClientWorks is now integrated with risk analytics software provider Riskalyze, allowing LPL advisors to evaluate risk across accounts they’re managing. Riskalyze said the partnership will impact about “2,500 users.”
We know about 2,500 users who are going to be delighted with this news! Thanks, @LPL. https://t.co/KDwAUBoLFP
— Riskalyze (@Riskalyze) July 24, 2018
Riskalyze has been on an integration run of sorts, linking up with Charles Schwab via the custodian’s OpenView Gateway and currently on a nationwide roadshow prior to its 2018 summit. The opening of its investment model partner store stirred speculation last year that the company is threatening to upend TAMPs. CEO Aaron Klein said the web of partnerships is a natural broadening of business.
In the case of the LPL integration, Riskalyze had previously been awarded “Vendor Affinity” accolades in 2016 and 2017, which Klein took as a “clear sign” of the company’s value to advisors associated with the independent broker/dealer.
“We want advisors to have more choice in the tools and resources they can use to support the unique needs of their business,” said LPL CIO Burt White in a statement. “We are leveraging our open architecture further by integrating with more third-party technology providers to deliver LPL advisors a more seamless and efficient technology experience.”
ClientWorks is in the middle of a $15 million upgrade, detailed in March, as LPL seeks to phase out BranchNet.