Wealthtechs Totum Risk & Circleblack Announce Integration

ATLANTA – January 29, 2018 – Totum Risk, the only risk tolerance digital questionnaire that helps financial advisors understand how much risk their clients can comfortably take based on their life situation, defined as risk capacity, has integrated with CircleBlack, a leading wealth management platform for advisors that offers multi-aggregation, integration, revenue generation and performance reporting all in a central single sign-on (SSO) Key Stroke hub.

Through the integration, advisors on the Totum platform will be able to access custodial feed data via CircleBlack and then customize investment portfolios using Totum’s proprietary portfolio risk scoring, which algorithmically analyzes each client’s unique risk preference based upon factors including their household’s pre-tax income & size, expenses, net worth, geographic location, industry exposure, health, ages, consistency of earnings, and more.

Totum also offers advisors a proposal generator to customize white labeled reports for their clients. This includes an Investment Policy Statement, Client Summary, and Portfolio Summary for FINRA’s suitability rule 2111.

The Totum/Circleblack integration will help advisors accurately evaluate existing client portfolio holdings throughout their entire book of business, and easily review and model investment strategies suitable for each individual client, based on an annually updated risk capacity profile.

“We are excited to integrate with Circleblack and offer a more accurate and relatable risk tolerance tool for their clients,” said Larry Shumbres, CEO of Totem Risk. “We see a trend of more and more advisors, RIA’s and institutions moving toward the digital advice platforms. With Totum, advisors can now build instant credibility and win more business by speaking the same language as their clients and not confusing them with investment questions they don’t understand.”

According to John Michel, CEO of Circleblack, “ Totum has a differentiated product which gives real value to advisors when integrated with CircleBlack’s advisor hub. CircleBlack’s robust data model provides Totum with a complete view of each client’s investments for it’s risk calculations. The integration also allows CircleBlack to present advisors with both the Totum risk number and alert advisors when a client’s portfolio risk has shifted.

The integrated product offering commenced on January 15, 2018 and is currently available to advisors.

About Totum Risk
Based in Atlanta, Totum offers financial advisors the ability to connect with their clients through an online risk tolerance questionnaire. Typical risk questionnaires focus on risk preference, which can change continuously. With Totum, life situations are taken into consideration, creating a more accurate representation of how much risk a client can actually take given their current circumstances, defined more accurately as risk capacity. For more information, visit www.totumrisk.com or follow the company on LinkedIn and Twitter.

About CircleBlack
CircleBlack is a wealth management platform that provides financial advisors with a complete financial overview of their clients’ portfolios in one, simple-to-access location. The firm aggregates feeds from custodians along with any direct holdings, such as mutual funds and annuities. Circleblack also integrates with external service providers used for Trading Billing, CRM and Risk Analytics.

Leave a Comment