May 30, 2023

PortfolioAid Partners with Worldsource Securities to Launch Revolutionary “Prime” Suitability Module

At PortfolioAid, we’re excited to announce our latest partnership with Worldsource Securities Inc. (WSI), as they roll out our innovative “Prime” suitability module. This collaboration underscores our mission to transform financial advisors’ assessment of portfolio suitability, providing them with advanced tools to better serve their clients while keeping compliance front and center.

Prime: The Next Step in Suitability Assessment

The financial industry has historically approached suitability by evaluating individual securities in isolation. While effective in its time, this method needs to account for how different securities interact within a portfolio. Our Prime module brings a fresh, forward-thinking perspective to suitability, shifting the focus from individual securities to the portfolio as a whole.

By using Prime, WSI advisors will access a more comprehensive tool that evaluates portfolio-level volatility, considering the standard deviation of each investment—a key metric that Canadian mutual fund and ETF providers use for determining risk ratings. This portfolio-wide assessment allows advisors to offer a more holistic and accurate view of risk, positioning them to build stronger, more diversified portfolios for their clients.

Enhancing Client Portfolios and Meeting Compliance Standards

At PortfolioAid, we understand the growing importance of balancing portfolio management with compliance obligations, including Know Your Client (KYC) and Know Your Product (KYP) requirements. Prime is designed to do just that—empowering financial advisors to build portfolios that not only align with their client’s financial goals but also remain in full compliance with regulatory standards.

We’re thrilled to see Prime in action through our collaboration with WSI. Richard Rizi, Vice President of Investment Services at Worldsource, shared his enthusiasm for the partnership:

“We are thrilled to partner with PortfolioAid to bring portfolio-level suitability to our managed account program and our soon-to-be-launched Unified Managed Account platform. The implementation of portfolio-level suitability is the first step in the launch of a more robust managed account and program platform that WSI’s Portfolio Managers and Financial Advisors can use with their high-net-worth clients. This partnership demonstrates our ongoing commitment to innovation and providing Advisors with choice.”

A Partnership Built on Innovation and Advisor Experience

We’re proud that Worldsource Securities has chosen PortfolioAid’s Prime module to enhance its managed account platform. Sam Webster, President of PortfolioAid, highlighted the value this brings to WSI:

“We are delighted that WSI has recognized the value that PortfolioAid Prime brings to the growth and vision of its managed account platform. WSI continues to demonstrate its commitment to improving the Advisor experience while maintaining robust compliance practices.”

This partnership represents a milestone in our ongoing efforts to support advisors by offering cutting-edge tools that simplify portfolio management while ensuring compliance. By integrating Prime into WSI’s managed account platform, both companies are working together to deliver a superior advisor experience, ultimately benefiting their high-net-worth clients.

A New Era for Portfolio Management

As we look ahead, this collaboration between PortfolioAid and Worldsource Securities sets the stage for a new era in portfolio management. With the introduction of Prime, we are confident that WSI’s advisors will be better equipped to navigate the complexities of today’s investment landscape, offering their clients more tailored, compliant, and innovative solutions.

This partnership reinforces PortfolioAid’s commitment to revolutionizing the wealth management industry, and we couldn’t be more excited to continue driving innovation forward alongside partners like WSI.

About Worldsource Securities Inc