News, Vision & Voice for the Advisory Community


With algorithms and awkward questions, an ex-PIMCO 32-year-old crashes the RIA business

Min Zhang will literally size you up and analyze your life like an actuary with Totum Wealth

Author Lisa Shidler January 9, 2016 at 12:17 AM
no description available
Min Zhang: We think about body-mass index. The questions can feel awkward.

Women of Wealth Management



Stephen Winks

Stephen Winks

January 9, 2016 — 11:54 AM

Totum is a game changer. Algorithms are not terribly expensive nor terribly complex to manage, the marketplace will reward those most adept at adding value which is where Totum comes in. You have to love their fixed pricing at $249 per month, far better than a TAMP taking an outsized share of the advisors fee in basis points. The difficult part in advisory services is winning client assets. Why would an advisor pay a premium for the mechanics of a TAMP which are easily replicated at a modest fixed cost. Investment product access is a commodity. The advisor is the premium value proposition, not the tools they use. We all are discovering inexpensive ways to add value, with the advisor keeping the lion’s share of the revenue. The cost of algorithmic advice will greatly decline reflecting the evolution to advisory services where advisor margins become a more important consideration than broker payout.

Stephen Winks



July 27, 2016 — 1:05 PM

I agree with Zhang. There is much more to analyzing a client. Riskalyze is garbage! There is nothing mathematical or any algorithm behind this product. It’s a compliance issue if you ask me. It’s like going to the doctor and not having him take blood, but telling you, you have a disease. Totum and Capital Preferences are game changers.

Related Moves

November 15, 2023 at 3:24 AM

Riskalyze replaces Lori Hardwick with Laurie Schultz at board chair and publicly tells her -- and the RIA industry -- it's moved the goalposts to a $1-billion valuation

The Auburn, Calif., firm's new chair already took one risk software firm to unicorn status and promises to 'do what it takes.'

November 24, 2021 at 11:12 PM

Lori Hardwick steps down as AI Labs president and steps up as a gunslinging paladin for Riskalyze and other firms in new gig economy consulting role

The co-founder went to the Tiburon CEO Summit in April and came away with four big consulting gigs that morphed into a new career

June 13, 2019 at 2:48 AM

After Riskalyze raised a pile of cash, it went shopping for a chief technology officer and found him at Apex Clearing

The Auburn, Calif., risk software maker is undergoing a shift to enterprises and nabs Josh Gray from the Dallas firm.

August 10, 2022 at 2:25 AM

See more related moves

Mentioned in this article:

Tech: Other
Top Executive: Aaron Klein

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING

RIABiz Directory sponsored by:

Directory Sponsor Logo

White Paper Postings

Common Tags

Recent Articles

Popular Writers

RIABiz logo


About Us




RIABiz, Mill Valley, California
Copyright © 2009-2024 RIABiz Inc. All rights reserved.