Riskalyze Capitalizes on Reg BIRiskalyze Capitalizes on Reg BI
Riskalyze is rolling out its risk metrics to a 'range' of professionals at Farm Bureau Financial Services.
Financial professionals at Farm Bureau Financial Services will have access to Riskalyze’s risk assessment features in May, as the wealthtech company continues to use regulators’ “best interest” standard to sign firms up for its service. The deal will give approximately 1,000 more individuals at the financial services firm, which offers life insurance, annuities and investment products, access to Riskalyze, according to an announcement.
The new Riskalyze users at Farm Bureau Financial Services will include “registered representatives and investment advisor representatives,” some of whom receive commissions, according to Mat Gleason, VP of wealth management at the firm. The West Des Moines, Iowa-based firm made the move in response to “growing SEC trends” and “evolving regulatory requirements,” he said in a statement.
"We're thrilled to partner with an organization so committed to strengthening communities by investing in their financial professionals," added Aaron Klein, CEO at Riskalyze, in a statement.
The SEC’s Reg BI, which has been subject to advisor criticism and at least one lawsuit on behalf of registered investment advisors, is scheduled to go into effect on June 30.
