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Focus Financial Taps HiddenLevers For Business Intel Platform

RIA consolidator firm Focus Financial Partners has partnered with HiddenLevers, a company built around cloud-based portfolio stress testing, to create a business intelligence platform for Focus and its partner firms, according to a company announcement. Focus Financial began publicly trading last year and earlier this year announced a deal with an RIA tallying $1.3 billion in revenue, a deal that will contribute to an expected banner year in deal volume.

“Technology is an important enabler of our partner firms’ business models and provides them with tangible networking benefits. Given our scale, we directly influence how solutions are developed so that they are tailored to Focus needs,” said Rudy Adolf, founder, CEO and chairman of Focus, in a statement. “HiddenLevers is the right business intelligence platform for fiduciaries, because they think like fiduciaries.”

“In addition to the Business Intelligence platform, all Focus firms will be using our proposal generation tool,” said HiddenLevers co-founder Raj Udeshi in an interview. He added that while the platform is built it will continue to be added to and that all Focus firms will have access to the new tools over the summer.

Among advisory technology experts, Michael Kitces has long advocated for more and better business intelligence among RIA firms.
“The irony of the advisor space is that we do all these Benchmarking studies, but most advisors still have no tools or dashboard from which they can easily pull the data for  the benchmarking studies in the first place,” Kitces said.

“At best, they pull some raw data about their business from various systems, and then have to manipulate them in spreadsheets to generate the actual ‘business intelligence’ data points that would go into a benchmarking study,” he added, noting that this in turn means such firms certainly don’t have the ability to proactively track and manage their own key business intelligence data points.

HiddenLevers first came to the attention of financial advisors when it was still in beta back in March of 2011. At that time, the startup provided interactive portfolio stress testing, macro scenario modeling, a macro scenario hedging screener, macro trend investment research and The War Room (an entertaining and informative monthly interactive webinar examining Macro Scenario outcomes).

Fast forward and since then the company has added risk profile comparison and proposal generation tools among other things, along with many different integrations with industry partners from TD Ameritrade Institutional to Envestnet and Orion Advisor Services. HiddenLevers has grown to a team of 20, half of them developers and is now headquartered outside Atlanta, in Decatur GA. HiddenLevers now has more than $440 billion in client assets under analysis on its platform.

This story is developing and will be updated shortly.

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