Category: The Tolerisk Blog

Retirement plays an important role in an individual’s overall wealth management strategy. Many people are investing their assets and hoping to grow their portfolios in order to achieve the wealth necessary to retire comfortably. With that being said, many people take into account the Social Security benefits that they will receive, and they work with their financial advisors in order to attempt to determine which age they will be able to retire.

Noting this, financial advisors should be aware that the full retirement age is scheduled to increase to 66 years and 2 months in 2017, and gradually increase to 67 by the year 2022. Michael Kitces, a financial expert who runs an industry blog, recently published an article titled: “Social Security Full Retirement Age Increase for First Time Since 2005.” The post explores the impact that this gradual age increase will have not only on retirees but spouses who will rely on their benefits as well.

What Do You Need to Know About the Social Security Age Increase?

• The gradual age increase that will take place during the next 5 years will impact a person’s decision as to when is the best time to retire. In 2017, with a full retirement age of 66 and 2 months, a person who wants to retire at age 62 will face a 25.83 percent deduction in their total benefits package. A person who delays retirement until the age of 70 will not see a notable increase in their benefits.
• Overall, the age increase will result in a minor average decrease in Social Security benefits across all age ranges, regardless of when an individual chooses to retire.
• The spousal reduction also will increase as the full retirement age is boosted to 66 and 2 months this year. A spouse who retires at age 62 will take a 30.85 percent reduction in benefits. This reduction will cap off at 35 percent by the year 2022 for any spouse who was born during or after 1960.

How Can Tolerisk® Help You Plan?

Tolerisk® is risk tolerance assessment software used by financial advisors to help determine a client’s ability and willingness to take risks with their wealth management strategies. It is the only risk tolerance assessment tool that incorporates cash-flows into the equation. When it comes to helping an individual plan for retirement, Tolerisk® uses factors such as annual mortality probabilities. These factors allow both advisors and their clients to improve their wealth management techniques to accommodate not only the duration of their retirement but also to provide survivors and heirs with any remaining assets.

In addition to incorporating factors such as mortality into an individual’s risk tolerance assessment report, Tolerisk® uses a variety of other factors in order to provide financial advisors with comprehensive and actionable data to relay to their clients. To find out more information about Tolerisk® risk tolerance assessment software, begin your free demo today.

Tolerisk®, the company that created the most innovative risk tolerance assessment software tool on the market, will attend the T3 Advisor Conference from February 14 to February 17 at the Hyatt Regency Orange County, in Garden Grove, California. This annual conference attracts many of the most respected and renowned financial advisors in the industry, particularly those who are interested in learning more about the latest technology available in their field.

Facts to Know About the 2017 T3 Advisor Conference

The T3 Advisor Conference is an annual event that lasts for 3 days, providing financial advisors from around the country with an opportunity to learn more about innovative financial technology tools that are available. Conference workshops, an exhibition hall and break-out sessions are available, allowing financial advisors to make the most out of their experience.

Visit Tolerisk® at the T3 Advisor Conference

Tolerisk® is thrilled to be a sponsor of the 2017 T3 Advisor Conference. You can find Tolerisk® at booth 100/102, where we will be providing financial advisors with in-depth information about our risk tolerance assessment software. You won’t want to miss out on our booth, as we’re hosting a raffle that allows everyone to walk away a winner. The grand prize is a 2-year subscription to Tolerisk® and either an Apple Watch or a Samsung Gear (winner’s choice!), and the second prize is a 1-year subscription to Tolerisk®. Every entry receives a 10-day complimentary subscription to Tolerisk®.

In addition to our informative booth and exciting raffle, our CEO Mark Friedenthal will be hosting a breakout session at the conference at 9:35 a.m. Thursday, February 16. The half-hour session will teach advisors how to incorporate cash-flows into the risk tolerance assessment process, allowing them to improve both analytical value and fiduciary services for their clients. Sign up for this valuable breakout session here!

Learn More About Tolerisk® Today

Tolerisk® is the only risk tolerance assessment software on the market that provides financial advisors with a scientific framework that separately determines the ability and willingness of their clients to take investment. Traditional risk tolerance assessments focus on the client’s personality towards risk without appropriately incorporating their cash-flows into the analysis. With Tolerisk®, advisors can intelligently combine each client’s willingness and ability to take risk in order to create a simple, measurable, and actionable risk directive. Advisors can easily incorporate mortality probabilities so the client will know the likelihood that they’ll outlive their money. This helps advisors validate their clients’ assumptions while providing risk tolerance advice, to make sure both are sound.

We look forward to seeing you at the T3 Advisor Conference and telling you more about our risk tolerance assessment software! However, if you can’t make it to the T3 Advisor Conference in Garden Grove, then you can click here to try Tolerisk® for yourself!

The leading risk tolerance provider will receive significant support and counsel from experts with a broad range of industry knowledge and tenure.

A provider of fiduciary-caliber risk tolerance assessment technology for investment advisors, is excited to announce the formation of its Advisory Board, comprised of 10 industry leaders with expertise in financial planning, insurance, fintech, business development, legal and compliance, and more. These individuals will leverage their diverse skills and knowledge to offer guidance, direction and feedback to the Tolerisk executive team through the firm’s evolution and growth.

The Tolerisk Advisory Board Members include:

• Frank Anguiano – Head of Products, UBS
• Mark Friedenthal – CEO, Tolerisk
• Colin Slabach – Assistant Professor at NYU, Faculty Lead of MS in Financial Planning
• Jonathan Jacobs – SVP, LIBRA Insurance
• Miriam Lefkowitz – Compliance Attorney, principal of Miriam Lefkowitz, LLC and Coda Advisory Group LLC
• Michael Raneri – Chief Technology Officer, Voya Financial
• David Ritchey – DVP, Symetra
• Kelly Waltrich – CEO, Intention.ly
• Ryan Wheeler – CTO, Tolerisk
• Michael Zebrowski – COO, Docupace

“We’re so fortunate at Tolerisk to have the support of the industry leaders on our board, whose insights will help us refine our solutions and better position our platform to meet the evolving needs of financial advisors and their clients,” said CEO Mark Friedenthal. “The diversity of experience and perspectives will be especially valuable to help guide our next phase of growth and development.”

Designed for fiduciaries, Tolerisk is a risk tolerance software application that accelerates practice growth and reduces compliance risk by making the complex easy to visualize, understand, and document. Tolerisk sets itself apart from traditional risk tolerance assessment tools, which focus primarily on the client’s willingness to accept risk, by incorporating their cash flows to measure both willingness and ability to take on investment risk, along with a constantly updated assessment of the shifting risk in the markets.

“Both brokers and investment advisers need to have reasonable controls to supervise that the financial professionals are making recommendations and providing advice that is in their client’s best interest,” said Miriam Lefkowitz. “Firms need tools to assess whether clients with similar profiles and risk tolerances are exposed to materially different levels of risk. Among other supervisory use-cases, Tolerisk can help firms use a uniform scale to risk rate actual client portfolios so there is firmwide consistency.”

“What Tolerisk is doing for risk tolerance is a fiduciary revolution,” said Michael Raneri. “Both clients and advisors have been historically underserved by other risk assessment tools, which fail to consider an investor’s ability to take risk or validate client assumptions, leading to the potential for risk directive advice that isn’t based on their personal financial circumstance.”

Colin Slabach added, “As an Advisory Board member for Tolerisk, I am thrilled to contribute to the work they are doing in the realm of risk tolerance assessments. Their innovative methodology has the potential to profoundly reshape the advisor-client relationship, fostering increased understanding and trust.”

Most recently, Tolerisk earned a standout 8.17 user rating in the 2023 T3 Inside Information Software Survey’s Risk Tolerance Instruments category. To learn more about the software, visit https://p5wealth.com/.

About ToleriskHeadquartered in Marlton, N.J., Tolerisk® is an analytical risk-tolerance assessment tool used by all types of financial professionals to help their clients figure out how much risk to take in their investment portfolio as well as the probability that they’ll outlive their money. For more information, visit https://p5wealth.com/.