Revolutionary Retirement Income Style Awareness (RISA) Assessment Founders Announce Formation of Advisory Board Packed with Industry Heavy Hitters, Plan Go-To-Market for January 2023

Revolutionary Retirement Income Style Awareness (RISA) Assessment Founders Announce Formation of Advisory Board Packed with Industry Heavy Hitters, Plan Go-To-Market for January 2023

Founded by retirement income legends Wade Pfau and Alex Murguia, the RISA has already built successful partnerships with Orion, Pacific Life and DPL.

By Joel Bruckenstein, CFP

The RISA®, a psychology-backed, research-driven income personality assessment transforming retirement income planning, announced today its inaugural industry Advisory Board comprised of thought leaders and innovators in the fintech space.

Founded by retirement income authorities Alex Murguia and Wade Pfau, the RISA, a 15-minute assessment for individuals actively planning for or engaging with retirement, helps financial advisors understand the ideal way each client would like to source retirement income, thus enabling advisors to define and implement personalized retirement income planning strategies aligned with individual preferences.

Founded by retirement income authorities Alex Murguia and Wade Pfau, the RISA, a 15-minute assessment for individuals actively planning for or engaging with retirement, helps financial advisors understand the ideal way each client would like to source retirement income, thus enabling advisors to define and implement personalized retirement income planning strategies aligned with individual preferences.

With industry interest in and excitement for the RISA’s capabilities growing, Murguia and Pfau sought expertise, feedback and ongoing insights from tenured fintech and financial services leaders to amplify opportunities and further refine the product. The first members of the RISA Advisory Board include:

  • John Faustino, Head of Broadridge Fi360 Solutions, Broadridge’s fiduciary education and technology business. Faustino, a visionary in the retirement income space, also founded the Retirement Income Consortium.
  • Ryan Beach, President of Orion Wealth Management, who has been instrumental in helping Orion become a fintech industry powerhouse, brings deep expertise working with a variety of wealth management firms to the Advisory Board.
  • David Lau, founder and CEO of DPL Financial Partners, a legendary financial services innovator leading the charge in bringing awareness to the different retirement income solutions available to advisors and their consumers, and removing fee barriers to their adoption.
  • Kelly Waltrich, co-founder and CEO of Intention.ly and serial CMO whose strategic guidance and marketing ingenuity have accelerated growth for financial technology companies spanning start-ups to established enterprises.
  • Bonnie Treichel, founder and Chief Solutions Officer of Endeavor Retirement, who brings both experience as an Employee Retirement Income Security Act (ERISA) attorney and as a retirement plan advisor to the RISA Advisory Board.
  • Michael Finke, Ph.D., Professor of Wealth Management and Frank M. Engle Distinguished Chair in Economic Security Research at The American College of Financial Services, who is considered one of the top five researchers in the retirement income space.

“I’m thrilled to serve as a member of the RISA Advisory Board,” said Ryan Beach. “Through a pilot program with RISA, Orion’s advisors have had the opportunity to make this innovative retirement income assessment available to their clients. I’ve seen firsthand the impact of the tool on an advisor’s ability to guide clients to better retirement outcomes by adding personalization and deeper understanding to the retirement income strategy conversation.”

In addition to Orion, the RISA has facilitated successful pilot programs with PacLife and DPL, and along with an additional 80 piloting advisors, 2,000 RISAs have been completed.

“Certainly, the mission behind the RISA aligns perfectly with my goal at DPL of enabling advisors’ awareness of and access to different retirement income strategies in service of their clients’ needs, goals and preferences,” said David Lau, Advisory Board member. “It’s a privilege to be part of the retirement income revolution Alex [Murguia] and Wade [Pfau] are spearheading.”

Recently, Pfau has brought the RISA story to the main stage at industry events hosted by C2 Financial, the National Reverse Mortgage Lenders Association, the Wealth Management Symposium and the Financial Planning Association.

“I’m so passionate about what Alex and I are building here, along with the brilliant minds that we’re so grateful to have on our Advisory Board,” Pfau said. “Together, we can help advisors create a truly differentiated experience for their clients by empowering a deeply personalized approach to generating retirement income and ultimately achieving retirement goals.”

The RISA, which has been garnering exceptional feedback from advisors through its original beta launch and the aforementioned pilot programs, is expected to become available to the broader market in January of 2023.

“We want to do more than simply give advisors access to the RISA,” explained Murguia. “We see ourselves as true partners to these professionals who are acting in the best interests of their clients. Wade [Pfau] and I will be there every step of the way to help maximize the impact RISA can have on both their clients’ retirement outcomes and their own firms.”

In support of their January launch, Pfau and Murguia are hosting a two-day masterclass webinar series on Monday, January 23 and Tuesday, January 24 from 12 – 1:30 PM, which will also kick off the start of a 4-6 week cohort training program, additional Q&A sessions, and open office hours.

To sign up for the webinar, Drive Growth & Deeper Client Relationships with the RISA: A 2-Day Retirement Income Masterclass, click here.

Joel Bruckenstein
Joel Bruckenstein
Joel P. Bruckenstein, CFP®, is Publisher of the T3 Tech Hub (formerly the T3 newsletter) and the producer of the Technology Tools for Today (T3) Advisor Conference, the only annual technology conference for independent advisors, as well as the Technology Tools for Today (T3) Enterprise Conference. He also hosts other technology summits in partnership with thought leaders in the financial services industry (e.g., Brian Hamburger of MarketCounsel) and his own by-invitation-only fintech summit every summer. In 2020, Bruckenstein will produce for the first time a new one-day intensive called T3 Cyber University. Bruckenstein is an internationally acclaimed expert on applied technology as it relates to the financial service industry. He is the co-author of three books: Virtual Office Tools for a High Margin Practice, Tools and Techniques of Practice Management, and Technology Tools for Today’s High Margin Practice. Bruckenstein’s monthly technology columns appeared in Financial Advisor magazine and Financial Planning magazine for many years. In addition, he works in tandem with industry influential Bob Veres, publisher of Inside Information, to produce an annual technology survey for the financial planning community. Bruckenstein accepted the fifth annual Leadership Award bestowed by Bob Veres' Insider's Forum, a conference that brings together the leading figures of the financial planning profession during a main stage presentation at the Insider's Forum held September 6-8, 2017 in Nashville, TN. Bruckenstein has for more than twenty years advised financial service firms of all sizes on improving their technologies, processes and workflows. For more information about Joel Bruckenstein and the services his firm offers, please visit www.JoelBruckenstein.com.

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