The new business, Guggenheim Investment Advisory, is targeting sophisticated intermediaries including investment advisors, family offices, trust companies, foundations and endowments.

Guggenheim Investment Advisory offers products and services through Guggenheim Investment Advisory Solutions, an open architecture platform that includes investments and wealth management services from Guggenheim and external managers.

Guggenheim Investment Advisory is a way for intermediaries to add specific capabilities, or can be applied as a turnkey solution, a Guggenheim spokesperson told Family Wealth Report.

Intermediaries who sign on have access to Riskometry, the firm’s proprietary approach to assessing risk tolerance. Trademarked, Riskometry was developed by Guggenheim managing partner Andy Rosenfield with Daniel Kahneman, a Nobel Laureate in Economics .

The behavioural finance approach applies modern finance and psychology theories to help high net worth investors understand their specific attitudes toward risk.

Advisors trained in Riskometry consult their clients and receive customised portfolio construction recommendations from Guggenheim geared to each client’s risk profile.

Guggenheim Partners has $100 billion in assets under supervision. One of the firm’s core activities is providing investment and wealth management services to its namesake, the Guggenheim family, as well as high net worth individuals, families, foundations and endowments.