Riskalyze Changes Its Name

As for which firm Nitrogen will compete against, Bruckenstein said: "They are not lead gen, so they do not compete directly with Snappy Kraken, FMG or Catchlight. The leads generated from those systems are fed into Nitrogen. So, [given] the way that Nitrogen defines itself, I'm not sure who the direct competition is."

Similarly, Welsh said: "Nothing has changed in who Nitrogen competes with, as they really aren't rolling out any new features and functionality that they didn't already have. From day one, Nitrogen has always been more than just a risk tolerance platform. They just came in through the [risk-themed] front door as an efficiency and productivity tool."

Extensive Research Before Change

Riskalyze alluded to its rebranding plans at its Fearless Investing Summit last year and  selected the new name to demonstrate "the value wealth management firms are generating with its platform," the company said.

Extensive research was done ahead of the brand change, Craig Clark, the firm's chief marketing officer, said during the webcast.

"In June of last year, we engaged the services of Lexicon Branding," a naming specialist. "You may not have heard of Lexicon, but you've definitely heard of the many brand names that they've created, including Swiffer, Fabrice, Microsoft Azure, Xbox Live" and Subaru Outback, he said.

"Creating a name for a company as storied as Riskalyze is a serious undertaking," Clark conceded. "To guide our decision making, we did a great deal of research, testing, iterating, understanding what resonated with you, our customers. Many of you on the line today were part of that process…. Over the course of six months, we agonized over more than 40 names."

The company selected Nitrogen "because it's an absolutely essential element for growth," he explained. "It exists everywhere in the soil from which the plants grow in the water that sustains life and in the air that we breathe.

"Like the element, [the] Nitrogen platform is essential for wealth management firms looking to drive consistent and scalable growth. Nitrogen helps you differentiate, tell your firm's story and helps give you the tools to create a prosperous and empowering investing experience for your clients," it added.

 (Pictured: Aaron Klein, co-founder and CEO of Riskalyze, which has changed its brand name to Nitrogen)