Riskalyze’s New Autopilot Platform Lets Advisors Leave Daily Hassles to the Robots

The platform features include eight low-cost ETF portfolios, automated trading and rebalancing using CLS' dynamic asset allocation, and a service team handles client transfers and withdrawals.

The firm charges advisors 25 basis points to manage the portfolios through the automated platform.

"Advisors today are spending 50, 60, 70 basis points on their clients' money trying to manually manage the money and provide all of that client service," Klein said. "What's incredible about Autopilot is that for 25 basis points that advisor gets to put all of their hassles of their business on autopilot – the trading; the rebalancing; the client-service calls, you know, the pedestrian client-service calls to liquidiate some money, withdraw some money, and transfer some money in. They get to put all of that on autopilot, and they get to get back to focusing on their clients and running their business."

Klein calls the Autopilot announcement "a big moment for advisors."

"The Autopilot platform is pretty unique in its ability to democratize access to advice," he said, "because, it really gives advisors the ability to profitably serve clients large and small."

The minimum account size for Autopilot is "only $5,000," Klein said.

"So, for example, when advisors have gone in to advise on a 401(k) plan they [are] usually … only focusing on the 5% of participants who have a lot of outside assets, but, with the Autopilot platform that advisor can profitably serve every single plan participant, which means every one of them is going to get higher quality advice overall," he explained. "We think that's really important for advisors."

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