FinMason, an investment analytics provider that enables WealthTech platforms to accelerate development and time-to-market, today announced that it has partnered with Covisum®, a financial technology company enabling thousands of advisors to provide better answers for retirees and pre-retirees. Covisum will leverage FinMason’s robust analytical engine to calculate and deliver their heavy-tailed proprietary risk analytics at scale.
“The needs of our clients are ever-evolving, and we are constantly searching for partners to help us better serve those needs,” said Joe Elsasser, CFP®, Founder and President of Covisum. “FinMason’s expansive universe of available securities and highly-scaled calculation environment make them an ideal partner for hosting our proprietary risk analytics.”
Covisum’s financial planning software suite includes Income InSight®, Tax Clarity®, Social Security Timing®, and SmartRisk™. With any combination of Covisum software, subscribers receive access to expert support, actionable client reports, and growth-oriented practice management and marketing resources that align with the subscription. The solutions are available via individual subscriptions, as well as through enterprise-level agreements.
“The Coronavirus pandemic highlights a basic problem with using simple standard deviation as a risk measure. It just does not capture the potential for large losses in the equity markets,” said Kendrick Wakeman, CEO of FinMason. “Covisum’s heavy-tailed risk model is designed to capture these extreme movements and give investors a more accurate view of risk, particularly over the short/intermediate term. We are delighted to help Covisum deploy this calculation to investors via our award-winning calculation platform.”
FinMason’s analytics engine was developed from the ground up on a modern tech stack with flexibility, speed, and scale in mind. Unlike legacy systems, which can take months to implement custom analytics, FinMason’s infrastructure enables custom calculations to be put into production in a matter of days. This partnership follows FinMason’s recent announcement of the expansion of their US sales team with the addition of two new senior salespeople.
ABOUT FINMASON INC.
FinMason, one of the world’s largest investment analytics engines for financial services platforms, enables WealthTech platforms to accelerate development and time-to-market while retaining control of their user experience. Built with speed, flexibility, and scalability in mind, the financial technology firm calculates and delivers more than 700 analytics on every publicly-traded asset in the world via one simple API. For more information, visit www.finmason.com.
Covisum creates software solutions, practice management and marketing resources to help advisors and financial institutions grow and improve lives through better retirement decisions. Covisum powers some of the nation’s largest financial planning institutions and serves more than 20,000 financial advisors. For more information, visit www.covisum.com.