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Totum's bid to beat Riskalyze, including its own 1 to 99 risk number, gets reward -- acceptance by Black Diamond and CircleBlack

CEO Larry Shumbres says financial advice industry is in for a shock, as thousands-strong uptick in users shows Totum Risk is the real deal

Author Oisin Breen
March 30, 2018 at 8:39 PM
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Larry Shumbre: Riskalyze doesn't work for any advisor who knows the basics of risk.

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Mentioned in this article:

RBC Advisor Services
Specialized Breakaway Service
Top Executive: Brett Thorne

Consulting Firm
Top Executive: Michael Kitces

Tech: Other
Top Executive: Aaron Klein

Manager Research
Top Executive: Jim Minnick, CEO

Totum Risk
Tech: Other
Top Executive: Larry Shumbres, CEO

Peter Giza

Peter Giza

March 30, 2018 — 11:57 PM
I think there are some other items of important note to add. The gathering and affirmation of client risk information is the frontend, the wow and marketing factor as pointed out. But there is a very important backend requirement in my opinion of your really going to do a risk platform right. Being able to backup what you did with that risk number in a way that is reassuring and defensible is key. Psychometric data must be married to quantifiable market data. Monitoring, analyzing trends, monitoring sentiment, geopolitical and many other factors will drive the next generation of these applications. I see apps like these mated with rebalancing and trading platforms as the near future of robo-trading. Even for non-robo users, imagine not having to constantly monitor every position. Rather you get an exception alert that you can act upon and even let the system just do it. Pete Peter Giza | Spitbrook Associates

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