Totum

Why Today’s Modern Advisor Needs Their Online Risk Tolerance Questionnaire To Be Part of an Integrated Fintech Platform

Online risk tolerance questionnaire

Gone are the days a risk assessment should be conducted on paper or in a spreadsheet. These processes are cumbersome, slow, and prone to inaccuracies.

Recognizing these problems, the founders of Totum by TIFIN spent over five years creating a tool that integrates with leading broker-dealers and custodians, as well as complimentary fintech partners.

We focused on integration capabilities by creating a seamless system that provides key features for accurate profiling. Advisors can integrate portfolios by selecting the appropriate third party from the integrations tab. Our system will then provide a score for each security, account, and overall portfolio. 

Since our system is updated daily, you are able to instantly access the true numbers for your clients’ portfolios. This allows you to accurately assess a client’s risk score, which is critical to proper portfolio management. Receiving old information or client estimates leads to inaccurate scoring. This inaccuracy does, no doubt, have a domino effect. Clients can be burdened with portfolios that don’t reflect their true ability to take on risk.

On the other hand, being able to access your clients’ current financial data at any given moment provides the accurate foundation to build a portfolio. Once you know you have the right numbers, you can proceed with confidence.

Our integrations also support workflow and increase your chances of closing on a prospect. Instantly pull current and accurate data to create risk and portfolio summaries, investment policy statements, and more to share with your next best client. 

Furthermore, accurate numbers and instant access allow you to adjust portfolios on the spot, with no lull between getting your clients’ data and making the necessary adjustments. In modern markets, even small delays in information can be costly. Access to the latest numbers keeps you nimble and proactive. Any score changes are automatically time-stamped as well, allowing for easier auditing, compliance, and annual client reviews.

Totum is also set up to accept outside models. Advisors can add self-constructed models and asset managers can add tactical model returns. Through our Model Marketplace, top asset managers can add models from Blackrock, Fidelity, State Street, SEI, and more.

Knowing the value of integration, Totum will continue to adapt as new technologies emerge, as well as partner with additional third parties.

Some of our current partners are:

  • Fidelity
  • Schwab
  • TD Ameritrade
  • Pershing
  • Broadridge
  • Orion

We’ve also integrated our system with other key players in the finance and fintech space. For a full list of our integrations, please visit our Integration Partners page. 

Totum simplifies the process of risk profiling while reflecting actual numbers at any given moment. We view this integration as a key component to risk modeling and scoring. This, in turn, aids in portfolio management since a more accurate score leads to better results for your clients. 

Without an online risk tolerance questionnaire that’s properly integrated, you’re not much better off than using that old paper or spreadsheet method. It’s outdated, inaccurate, and will leave you trailing behind.

Schedule a time to learn how Totum’s integrated risk tolerance platform can help your firm.

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