NEW YORK, NY--(Marketwired - February 28, 2017) - RiXtrema, the leading provider of risk management tools and analysis to the financial advisory and broker/dealer community to help ensure that investors get the analysis and advice they need, announced open access to a set of easy-to-implement APIs to help advisory firms and software providers build a better fiduciary workflow. RiXtrema has created a unique set of APIs with data and calculations that enhance fiduciary best practices.
"There are a great many ways that the data we have gathered and the risk calculations we implemented can be consumed by users," said RiXtrema President Daniel Satchkov, CFA. "By opening our APIs we are inviting software developers to enrich their internal applications with unique data sets and analytics without having to commit to our entire platform. The APIs are extremely flexible, often requiring only days for full integration into partners' environments. In addition, we have provided complimentary use of some basic information from our FeeComp database, as well as our Stress & Risk API to software developers."
The FeeComp API enables advisors to defend reasonableness for compliance purposes, thereby reducing advisors' liability. It also helps advisors explain their fees to clients, especially in sales situations. Finally, it gives advisors competitive intelligence about what other advisors are charging, both locally and nationally. Capabilities include:
- Flexible REST/SOAP API that can be quickly integrated into any software
- Ability to fetch local and national average fees for a portfolio of a certain size (or by AUM bucket)
- Information about individual firms in any area along with their detailed fee breakdown
- Alerts when a new advisory firm is created or existing firms change fees, or increase assets
STRESS & RISK API
The Portfolio Risk API enables an advisor to see stress tests and risk statistics for a portfolio right from the client dashboard. Alerts can be set up to monitor increasing risk or deviation from the portfolio's intended risk tolerance. Portfolios can be optimized through the API to bring portfolio risk in line with risk tolerance. Capabilities include:
- Flexible REST/SOAP API
- Coverage of any type of a portfolio including funds, stocks, bonds, annuities and derivatives
- Ability to fetch results for hundreds of different stress scenarios, including historical events such as 2008 Crash or prospective ones (e.g. Trump Trade Wars)
- Betas and standard deviation for securities
NEW MARKETING AGREEMENT
RBC Correspondent Services and RBC Advisor Services, a full-service clearing, custodian and brokerage firm for independent broker dealers and Registered Investment Advisors, is offering RiXtrema's FiduciaryOptimizer software and services to its clients.
"We recognize how essential it is for our clients to have access to leading solutions," said Brett Thorne, Head of RBC Correspondent and Advisor Services. "Offering tools to help clients comply with financial regulations is one of our ongoing commitments."
"We are excited to be added to the network of resource providers on Marketplace," said RiXtrema Head of Enterprise Sales Don Harding. "Our proven solution provides both quantitative and qualitative measures for comprehensive analysis and reporting, while at the same time, accelerating the workflow for compliance with all the necessary integrated data."
Founded in 2010, RiXtrema is a portfolio crash-testing company that helps advisors discuss risk with clients. Long used by fund managers, pensions plans and funds of funds, RiXtrema has introduced its risk management tools to the financial advisory and broker/dealer community to help ensure that clients get the analysis and advice they need. The RiXtrema research team received the 2015 Peter L. Bernstein award, one of the most prestigious awards in finance, for its article Risk Estimation and Hedging: A Reverse Stress Testing Approach, published in The Journal of Derivatives in April 2015. RiXtrema solutions include Portfolio Crash Testing; BioniX, the first robo platform for advisors that includes sophisticated risk modeling; IRAFiduciaryOptimizer, the first quantitative DOL Fiduciary Rule Rollover solution, and the related 401(k) Fiduciary Optimizer geared for plan advisors. For more information, visit www.rixtrema.com.