Riskalyze

Nitrogen is a financial technology company that provides software as a service to financial advisors in the United States. Nitrogen revolutionized how financial advisors and wealth management firms grow with the launch of Riskalyze in 2011.[1] Riskalyze's platform provided tools for analyzing investment risk, delivering 401(k) plans, and building and implementing investment portfolios.

Nitrogen
TypePrivate
IndustryFinancial services, Software
Founded2011 (2011)
FoundersAaron Klein (CEO)
Mike McDaniel (CIO)
Matt Pistone (CTO)
Headquarters
Auburn, California
ProductsNitrogen Select
Nitrogen Elite
Nitrogen Ultimate
Number of employees
~200
Websitewww.nitrogenwealth.com

Today, Nitrogen is the growth platform for wealth management firms, helping advisors turn leads into meetings, meetings into valued clients, and clients into referral champions. The company invented the Risk Number®, built on top of a Nobel Prize-winning academic framework,[2] an alignment tool for financial advisors to quantitatively measure investor risk tolerance, risk capacity, and portfolio risk on a scale from 1 to 99.[3]

Nitrogen is also the champion of the Fearless Investing Movement — tens of thousands of financial advisors committed to the mission of empowering the world to invest fearlessly. To learn more, visit NitrogenWealth.com.

History

Co-founders Aaron Klein (Chief Executive Officer), Mike McDaniel (Chief Investment Officer), and Matt Pistone (Chief Technology Officer) founded the company in 2011. Nitrogen, formerly Riskalyze, was initially a free consumer product,[4] but became a tool licensed to financial advisors after a shift in the business model.

In 2016, Riskalyze raised Series-A institutional funding of $20 million from FTV Capital,[5] and was then recapitalized by Hg in 2021. [6] Riskalyze was recognized by Fast Company on its list of The World’s Top 10 Most Innovative Companies in Finance 2013[7] and The World’s Top 10 Most Innovative Companies in Personal Finance 2015. Forbes recognized Riskalyze on its Fintech 50 list in 2015[8] and 2016.[9]

Since Riskalyze's inception, the company invested more than $50 million dollars in research and development to build out the software platform adding analytics, stress testing, proposal generation, client checkins, lead generation and a host of other industry-first features. [10]

As Riskalyze delivered innovation to the marketplace, the feedback from customers made it clear—while the company might have started with risk tolerance, what it really delivered to firms was a growth platform.

In 2023, Riskalyze rebranded to Nitrogen positioning itself as the world's first purpose-built growth platform for wealth management firms. Like the chemical element, the Nitrogen platform is essential for wealth management firms looking to drive consistent and scalable growth. [11]

Current operations

In August 2017, Nitrogen (as Riskalyze) was reported to support 20,000 advisors collectively representing hundreds of billions in assets under management.[12] Today, Nitrogen has approximately 225 employees, two offices in Auburn, California, and one office in Atlanta, Georgia in the Bank of America Plaza.[13]

References
  1. "Riskalyze Rebrands as Nitrogen, Creator of Industry-First Growth Platform". www.businesswire.com. 2023-05-09. Retrieved 2023-05-09.
  2. Malito, Alessandra. "Stereotypes In Risk Mean Misaligned Portfolios". Investment News. Retrieved 2018-05-07.
  3. Britton, Diana. "FPA, TrueProfile Create New Risk-Profiling Tool". Wealth Management. Retrieved 2018-05-07.
  4. Carrns, Ann. "New Site Seeks to Analyze Investors' Appetite for Risk". Bucks Blog. Retrieved 2018-03-01.
  5. Skinner, Liz. "Riskalyze draws $20 million in capital for robo platform and other adviser products". Investment News. Retrieved 2018-03-01.
  6. Steinberger, Samuel. "Riskalyze Recapitalizes With Hg Capital". WealthManagement.com. Retrieved 2021-11-11.
  7. "The 2013 Top 10 Most Innovative Companies by Sector: Finance | Fast Company". Fast Company. Retrieved 2018-03-01.
  8. "Fintech 50: The Future Of Your Money". Forbes. Retrieved 2018-03-01.
  9. Sharf, Samantha. "The Fintech 50: The Complete List 2016". Forbes. Retrieved 2018-03-01.
  10. "Nitrogen Wealth | Riskalyze is now Nitrogen". Nitrogen Wealth. Retrieved 2023-05-09.
  11. "Nitrogen Wealth | Riskalyze is now Nitrogen". Nitrogen Wealth. Retrieved 2023-05-09.
  12. Neal, Ryan (2017-08-09). "What Is Aaron Klein Building With Riskalyze?". Wealth Management. Retrieved 2018-03-01.
  13. Anderson, Mark. "Auburn-based fintech company recruits CFO experienced at high-growth firms". www.bizjournals.com. Retrieved 2018-03-01.
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