Envestnet has brought innovative investment solutions to over 100,000 advisors and dozens of the world’s largest broker-dealers and Riskalyze helps clients understand the relationship between risk and reward and how their emotions impact their behavior. In this article, we will explain how you can incorporate the Riskalyze Risk Tolerance Questionnaire (RTQ) into your existing Envestnet workflow.
In this article:
- Getting Started
- Syncing Clients
- Launching a Questionnaire
- Single Sign-on into Envestnet
- Risk Number Details Report in Envestnet
If you’ve already met with your Envestnet Enterprise Consultant and have discussed/set up your integration, you can navigate to Menu > Settings > Integrations within Riskalyze. Scroll to Envestnet and click Connect.
Once integrated with Envestnet, you can link clients in one of two ways. For clients not already in Riskalyze, navigate to the client page and click + ADD NEW CLIENT. Here you can click on the Envestnet logo and search for your existing Envestnet clients.
To add existing Riskalyze clients, go to the client overview page, click Client Actions > Integrations > Envestnet.
Note: When syncing, you will only be able to pull in your clients' names — accounts and holdings will not sync into Riskalyze (accounts and holdings data will be added in the future).
Once your client’s profile is synced, you can launch the RTQ for existing or new clients.
Launching a Questionnaire
Now that it’s time to launch an RTQ, you can navigate to the client profile, select RISK NUMBER and launch or share the questionnaire. When the questionnaire has been completed, you can select the ••• menu and click Send to Envestnet.
Before you single sign into Envestnet, Riskalyze will ask you to confirm the client’s name, Risk Number, and assessment results.
Single Sign-on into Envestnet
Now that your risk assessment has been confirmed within Riskalyze, Envestnet will create a new proposal with all of your client's details including their name, Risk Number, investable assets, and risk objective.
Risk Number Details Report in Envestnet
As you continue through your Envestnet workflow, you will have the ability to generate a Risk Number Details Report. In Envestnet, navigate to Proposal Guide > Paperwork and select Generate. This report will contain your client’s Risk Tolerance Questionnaire responses from Riskalyze.