Products May 27, 2014

FPA Creates Knowledge Circles to Boost Collaboration

The Financial Planning Association (FPA) launched a collection of web-based “Knowledge Circles” aimed at fostering communication and collaboration among its members.
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FPA explains the Knowledge Circles as a collection of dynamic communities centered on specific subjects that enable service providers to address client problems, tackle business objectives and connect globally with peers. Open only to FPA members, the program will enable financial professionals to delve into core subject areas and access tools and content of importance and interest.

“While FPA members are dedicated to the practice of financial planning, they often have specialties or topics they are simply enthusiastic about,” explains Lauren Schadle, executive director and chief executive officer for FPA. “The Knowledge Circle program will allow members with a specific interest to discuss best practices and work collectively on innovative ideas while providing valuable guidance to FPA.”

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The program will be rolled out over the next 12 months and will include the establishment of eight official Circles, each with a specific focus area. The Circles will be spearheaded by “host” volunteers who will act as curators of content and facilitators of discussion. Hosts will also help drive engagement of Circle participants.

The first three Knowledge Circles will be in September, FPA says, and will include circles for business success, international business, retirement planning and Social Security optimization. In the months following, FPA will introduce circles for estate planning, investment planning, risk planning and tax planning.

“The Knowledge Circle program will be instrumental in enhancing the overall quality of content developed by FPA, in print, virtually, and at our conferences while also giving our members an opportunity to further engage with their peers on those matters of importance to their clients and businesses,” Schadle adds.

Professionals interested in serving as a host of a Knowledge Circle can apply now. Those interested in participating can sign up to be added to a registration list comprised of future Circle participants by emailing cop@onefpa.org.

Products May 27, 2014

PensionsFirst Broadens Focus to Become RiskFirst

Financial technology provider RiskFirst, formerly PensionsFirst, has expanded the focus of its pension risk analytics software for wider application in multi-asset portfolio management and compliance settings.
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The UK-based RiskFirst will continue to offer the PFaroe risk management platform to defined benefit (DB) pension plans, the firm says. Moving forward, the firm will adapt PFaroe to meet demand from other industries for this type of technology, especially insurers and other buy-side risk managers requiring sophisticated analytics to manage complex portfolios and to master regulatory complexity.

PFaroe, which is also offered to U.S.-based DB plans through a partnership with Winklevoss Technologies LLC, provides a cross-balance-sheet view of liabilities, assets and risk. As an online platform, PFaroe provides real-time financial updates and, because it is delivered in modular form, users can license tools according to their needs for day-to-day management or for specific projects. As a result, PFaroe can offer a cost-effective solution to risk managers of all sizes to meet the growing need for sophisticated analytics and reporting, the firm says.

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Timothy Lyons, founder of RiskFirst, says the change of name marks a new focus for the company on providing technology and compliance services more broadly in the market. The firm will target insurers, healthcare providers, corporate defined contribution (DC) plans and wealth managers, among other verticals.

“As with pensions, typically multiple parties manage the assets, liabilities, and risk using disconnected systems and inconsistent analysis,” explains Benjamin Reid, president of RiskFirst. “This can result in inefficient, uneconomic and potentially risky decisions being made without adequate information. Through its web-based delivery, PFaroe uniquely provides all stakeholders with the information needed to make better management decisions.”

Initially launched in the UK, RiskFirst also delivers its technology through partners such as LGIM and Punter Southall. Last year the firm announced a joint venture with PwC to deliver a risk analytics product called Skyval to PwC’s customers in the UK and the U.S.

More information is available at www.riskfirst.com.

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