{"id":2496,"date":"2018-12-21T11:10:59","date_gmt":"2018-12-21T16:10:59","guid":{"rendered":"https:\/\/www.rixtrema.com\/blog\/?p=2496"},"modified":"2020-01-08T15:21:19","modified_gmt":"2020-01-08T20:21:19","slug":"larkspur-rixtrema-year-in-review-2018-news-new-tools-for-advisors-and-more","status":"publish","type":"post","link":"https:\/\/rixtrema.com\/blog\/larkspur-rixtrema-year-in-review-2018-news-new-tools-for-advisors-and-more\/","title":{"rendered":"Larkspur-RiXtrema Year in Review 2018: News, New Tools for Advisors and More\u2026"},"content":{"rendered":"

Image Source:\u00a0https:\/\/kinsta.com\/blog\/2018-year-in-review\/<\/a><\/p>\n

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,\u00a0Larkspur-RiXtrema\u00a0continues 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.<\/span><\/p>\n

Merger<\/b><\/span><\/h3>\n

Early on in 2018, John Sullivan of the 401kSpecialist published <\/span>an article<\/span><\/a><\/span> describing RiXtrema\u2019s recent acquisition of Larkspur Data and what this means for retirement plan advisors across the country.<\/span><\/span><\/p>\n

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Daniel Satchkov<\/a><\/span> and Yon Perullo<\/a><\/span> of the now, Larkspur-RiXtrema, are both quoted describing the recent merger:<\/span><\/p>\n

\u201cCombining strengths of RiXtrema\u2019s 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,\u201d Daniel Satchkov<\/span>,<\/span> president and founder of RiXtrema, said in a statement. \u201cAcquiring Larkspur was a no-brainer decision for us.\u201d<\/span><\/span><\/p>\n

\u201cLarkspur are true pioneers in the 401k space and we\u2019ve been using their data for a while,\u201d Yon Perullo said, when asked about the reason for the deal. \u201cThe 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.\u201d<\/span><\/p>\n

Prospecting in Style<\/b><\/span><\/h3>\n

With the development of our Executive database, we\u2019ve 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\u2019s 401kFiduciaryOptimizer or Larkspur Executive), you\u2019ll 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\u2019s ever been. Advisors can find key executives in their area and immediately draft a report based off of their real retirement plan.<\/span><\/p>\n

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(Screenshot of Prospects of Wealth 2.0 and Portfolio Crash Test)<\/span><\/p>\n

A July 2018 article by renowned advisor expert Michael Kitces on FinTech trends titled <\/span>The Latest In Financial Advisor #FinTech for the month of July 2018<\/span><\/i>, discussed \u00a0the recently released 2-in-1 tool for financial advisors from Larkspur-Rixtrema:<\/span><\/span><\/p>\n

\u201c\u2026RiXtrema, a portfolio stress testing tool that has increasingly focused into the 401(k) space by building out a \u201c401(k) Fiduciary Optimizer\u201d due diligence tool, is now also building out its own version of marketing and prospecting tools. Leveraging a database of qualified plan executives from <\/span>their recent Larkspur acquisition<\/span><\/a><\/span>, RiXtrema has announced <\/span>its \u201cProspects Of Wealth 2.0\u201d platform<\/i><\/b><\/a><\/span>, which pulls available information on the qualified plan\u2019s 401(k) menu, conducts a \u201cPortfolio Crash Test\u201d 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\u2019s no way to know exactly how the plan is <\/span>actually <\/span><\/i>allocated \u2013 at best, the Stress Test analysis will typically be done just based on available menu <\/span>of <\/span><\/i>options \u2013 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…<\/span>\u201d<\/span><\/span><\/p>\n

You can read the entire article <\/span>here<\/span>.<\/span><\/a><\/span><\/p>\n

Growing Your 401K Practice with Larkspur Executive<\/b><\/span><\/h3>\n

In October 2018, Larkspur-Rixtrema released Larkspur Executive,<\/span> 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.<\/span><\/span><\/p>\n

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.<\/span><\/p>\n

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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\u2019s peers ready to go.\u00a0<\/span>Watch a short video to learn more:<\/span><\/p>\n