RISR, a wealth tech provider focused on helping advisors engage with business owners, is officially on the rise as it forges a key partnership.
The fintech firm revealed its alliance with Journey Strategic Wealth, a nationwide advisory firm. This collaboration aims to bolster Journey's mission of supporting advisors in driving organic growth, specifically with business owner clients.
Journey Strategic Wealth has emphasized organic growth over the past year by handling all operations for its advisors, offering coaching on revenue generation, and providing necessary tools to serve clients comprehensively.
Through the partnership with RISR, Journey said it’s boosting its advisors’ capabilities to offer holistic insights into their clients' businesses.
"We saw an opportunity for our advisors to better understand an underserved market,” Penny Phillips, president and co-founder of Journey Strategic Wealth, said in a statement Tuesday. “Through this partnership, our advisors are able to thoroughly communicate with business owner clients and feel confident about the advice they’re giving."
Through the integration with the RISR platform, Journey advisors can extract business data from QuickBooks or tax documents, which they can leverage to give clients insights on business valuation, growth opportunities, and risk management.
Phillips also highlighted the RISR platform’s potential to fuel Journey advisors’ prospecting activities as they demonstrate a differentiated service.
"Advisors throughout the industry are simply not doing this type of work with their clients,” Clients and prospects alike are blown away by what RISR teaches them about their own business, and this is a way to truly validate value proposition within a specific niche.”
RISR’s partnership comes as a significant portion of private business owners go past their 50th birthdays and face potential retirement or business exits. Recent research by Edward Jones found that one third of business owners don’t have a succession plan.
“Journey advisors are ahead of the game, bucking a trend that has affected the industry for too long,” said Jason Early, founder and chief executive officer of RISR.
The team-up between RISR and Journey builds on other recent wins for the fintech firm, including a $1.5 million capital raise in June and two strategic hires, namely Alex Michaels as head of product and Megan Cochran as a software engineer.
With RISR’s platform, Michaels said advisors will be able to address a critical issue head-on.
“Clients typically switch financial advisors due to a lack of personalized attention,” said Michaels. “With access to key data and insights the business owner cares about, advisors can unlock new opportunities to deepen their relationships with this sizable cohort.”
Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.
Whichever path you go down, act now while you're still in control.
Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
Streamline your outreach with Aidentified's AI-driven solutions
This season’s market volatility: Positioning for rate relief, income growth and the AI rebound
