Image Source: https://kinsta.com/blog/2018-year-in-review/
The biggest news of 2018 is fully completed merger of RiXtrema and Larkspur Data Resources into one company, Larkspur-RiXtrema. Both companies were well known in the advisory industry for providing great analytics and reporting to advisors working in the retirement planning business, portfolio and risk management, and IRA management. With combined strength and talent, Larkspur-RiXtrema continues to develop the best, cutting edge technology to help advisors to provide accurate and timely advice to their clients. Here are just a few highlights from this year, and a word about the year ahead from Larkspur-RiXtrema president, Daniel Satchkov.
Early on in 2018, John Sullivan of the 401kSpecialist published an article describing RiXtrema’s recent acquisition of Larkspur Data and what this means for retirement plan advisors across the country.
“Combining strengths of RiXtrema’s financial plan analytics and plan holdings data with the most extensive datasets from Larkspur Data will help advisors create an unbeatable value proposition to plan sponsors,” Daniel Satchkov, president and founder of RiXtrema, said in a statement. “Acquiring Larkspur was a no-brainer decision for us.”
“Larkspur are true pioneers in the 401k space and we’ve been using their data for a while,” Yon Perullo said, when asked about the reason for the deal. “The acquisition significantly increases our scope and footprint with retirement plan information. Our analytics really only dealt with audited plans, but we went very deep. Larkspur was always more about the overall performance of the plans, as well as the metrics and that kind of data, and they were always very broad in the view they provided. So now we can go both broad and deep and provide a very holistic view of the plans.”
Prospecting in Style
With the development of our Executive database, we’ve made massive improvements to many of our already cutting edge tools. Every time you open in a plan in one of our tools (whether it’s 401kFiduciaryOptimizer or Larkspur Executive), you’ll be able to find contact information on a key executive right off the bat. We even took these key executives and all this 401(k) plan data and created it into its own product (Prospects of Wealth 2.0 in the screenshot below) with the Portfolio Crash Test to make prospecting for high net-worth individuals easier than it’s ever been. Advisors can find key executives in their area and immediately draft a report based off of their real retirement plan.
(Screenshot of Prospects of Wealth 2.0 and Portfolio Crash Test)
A July 2018 article by renowned advisor expert Michael Kitces on FinTech trends titled The Latest In Financial Advisor #FinTech for the month of July 2018, discussed the recently released 2-in-1 tool for financial advisors from Larkspur-Rixtrema:
“…RiXtrema, a portfolio stress testing tool that has increasingly focused into the 401(k) space by building out a “401(k) Fiduciary Optimizer” due diligence tool, is now also building out its own version of marketing and prospecting tools. Leveraging a database of qualified plan executives from their recent Larkspur acquisition, RiXtrema has announced its “Prospects Of Wealth 2.0” platform, which pulls available information on the qualified plan’s 401(k) menu, conducts a “Portfolio Crash Test” scenario analysis to show where the plan may have potential risks, and then provides the direct contact information (email addresses and phone numbers) of the relevant qualified plan administrators and executives to show them the results and solicit their business. Of course, the caveat is that there’s no way to know exactly how the plan is actually allocated – at best, the Stress Test analysis will typically be done just based on available menu of options – but nonetheless, the RiXtrema Prospects of Wealth solution is a notable and positive step in the direction of adapting their tool into not just an analytical and portfolio construction tool, but a marketing and business development solution that helps a wider range of advisors…”
You can read the entire article here.
Growing Your 401K Practice with Larkspur Executive
In October 2018, Larkspur-Rixtrema released Larkspur Executive, the breakthrough retirement plan analysis tool. Executive goes far beyond the form 5500 software to give you a 360 degree view of the plan with its financial data, plan menu, executive profiles and much much more. Watch the video to learn how to win retirement plan business.
Not only does it have up-to-date information about 850K+ ERISA plans, but Executive also gives you ways to contact more than 1.2 million plan executives. No other tool does that. In addition Larkspur Executive provides key ratings for virtually every plan in the country measured against a customizable benchmark peer group.
Imagine being able to quickly search for thousands of plans in any zip code and having executive names and contact information at your fingertips. You can reach plan executives and have unique diagnostics on their plan and plan’s peers ready to go. Watch a short video to learn more:
Excel 401(K) The Advisors’ Conference
In the end of October Representatives from Larkspur-Rixtrema took part in this year’s Excel 401(K) The Advisors’ Conference, where recently released Larkspur Executive tool along with other advisor tools were showcased. Learn more here.
New Complimentary Newsletter for Larkspur-Rixtrema Clients
In November we began offering an exclusive and free service to our clients in which we can provide you with premade newsletter templates for your email marketing campaign. This also includes content generation and even an option for a personalized interview with every advisor which can then be included in the newsletter for your clients and prospects. Click here to learn more about this special offer.
A Lot to Look Forward to in 2019: Word from Daniel Satchkov, President
We have had an amazing 2018! RiXtrema acquired Larkspur Data Resources, a legendary company who started building plan advisor software decades ago. We launched Larkspur Executive with points of contact in the C-suite of plans our clients are trying to win over. We’ve added unique real-time update giving our advisors a jumpstart on competition for presenting latest data to any prospect. We’ve added detailed benchmarking and convenient map searches. But 2019 is shaping up to be even bigger.
We plan to further enhance Larkspur Executive by adding sophisticated search tools to find any relevant news or discussions about your prospect plans across the web and social media. Having proper context when reaching out to prospects frequently makes a difference between winning and losing.
We are also rebuilding our boutique risk engine Portfolio Crash Testing. Risk in the markets is back and we will add a ton of new functionality to help you manage it better and separate yourself from the competition.
Merry Christmas and Happy Holidays to everyone!
Daniel Satchkov, CFA
Below you can find the links to request your own personal demo of the Larkspur-Rixtrema Tools. If you would like to see more than one simply let our client success specialists know during your demo and they will be happy to answer any and all of your questions:
401kFiduciaryOptimizer – Quantitative diagnostics/improvements for retirement plans to accelerate your plan sponsor AUM growth.
Larkspur Executive – Premier plan prospecting solution. Win more plans with 850,000+ plans and 1.2+ million plan executives with contact data at your fingertips.
Prospects of Wealth 2.0 combines powerful risk analysis with data on 5.2 million HNWI. Data includes contact information such as email/phone, place of work, social network profiles, as well as retirement plan menu holdings for prospect’s company. This enables you to reach out to prospects ahead of competition and show them unique risk analysis on their retirement portfolio or any portfolio of choice.