Interview with Daniel Satchkov, Co-Founder and President at RiXtrema

Daniel Satchkov is the President and Co-Founder of RiXtrema, Inc., a firm specializing in financial modeling and machine learning for plan advisors, financial advisors, and wealth managers. Satchkov is an AI subject matter expert who has been doing data science for more than 20 years and has worked and published in the fields of quantitative finance and machine learning.

He is a member of the International Federation of Clinical Chemistry and Laboratory’s (IFCC) working group on Artificial Intelligence and Genomic Diagnostics (WG-AIGD). Before RiXtrema, he was Associate Director of Risk Research at FactSet (2000-2010), where he researched and developed new and innovative software products dealing with cutting-edge risk measurement and reporting.

Satchkov holds Bachelor of Science and MBA degrees from the University of the Pacific and has spoken at numerous financial conferences. He is a Chartered Financial Analyst®, has published widely in leading industry magazines (e.g., Journal of Asset Management, Journal of Risk Model Validation, Investment and Pensions Europe), and received the prestigious 2015 Peter L. Bernstein Award for his joint paper “Robust Risk Estimation and Hedging: A Reverse Stress Testing Approach” published in the Journal of Derivatives. He has also co-authored important papers through his extensive work in the area of machine learning.

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Interview questions:

Introduction | Please provide an overview of RiXtrema.

AI Products | What are RiXtrema’s AI products and how are they changing the game for those who work as financial advisors, plan advisors, and asset managers?

ChatGPT | Why can’t ChatGPT be used for finance?

AI Adoption | Are people in the world of finance adopting AI – or is there still some hesitation?

AI for the Financial Services Industry | How is AI changing the landscape for the financial services industry?

Career | How did you become a subject matter expert in the areas of Machine Learning, Data Sciences and AI? Share some of the highlights from your career.

Milestones | What are some of RiXtrema’s milestones?

Growth Plans | What are RiXtrema’s plans for additional growth and innovation?

RiXtrema Inc. is a pioneer in developing innovative tools for plan advisors, financial advisors, and wealth managers using machine learning (AI) and data science. Based in New York, NY, RiXtrema currently serves over 7,000 retirement plan advisors and financial advisors. The company’s mission is to help these financial professionals grow their businesses and comply with fiduciary regulations. RiXtrema was founded in 2010 as a quant risk management system and started serving advisors in 2015. Since then, the company has combined the best machine learning (AI) for data gathering and financial math to create actionable reports for fiduciaries. RiXtrema’s products use fiduciary analytics, science-based mathematical risk assessment models, intuitive interfaces, fine-tuned searches for plans and sponsors, case studies for each RiXtrema product, science-based mathematical risk assessment models, web-based software that does not need to be installed on computers, and multi-platform support irrespective of the operating system and computer’s performance. All RiXtrema products come with a money-back guarantee. In November 2023, RiXtrema unveiled RemAI, an advanced AI tool with stunning new technology that leaves ChatGPT in the dust. RemAI’s Large Language Model speeds up financial and investment research 10X by providing a straightforward way to ask an investment research question and receive a near-instant answer with an explanation, data, and charts. With its wide scope, RemAI is not just for financial advisors, but also plan advisors, asset managers, and day traders.

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