Aaron Klein is stepping down because the CEO of Nitrogen (previously Riskalyze), the corporate he based 12 years in the past as a threat tolerance documentation software. Klein can be succeeded by Dan Zitting, the founding father of Workpapers.com, which was acquired by Impress; he ultimately grew to become CEO of the corporate, which later rebranded as Diligent.
Impress is a SaaS firm, serving a million customers world wide, specializing in constructing software program to assist workers targeted on safety, threat administration and compliance.
Throughout his time at Impress, the corporate grew to greater than 500 workers and greater than $100 million in income, earlier than ending his CEO tenure with a $1 billion acquisition by Diligent.
“The chance to serve advisors who ship skilled recommendation to Individuals getting ready for important milestones of their lives is extremely particular to me,” Zitting stated in a press release. “I’m excited to speed up the growth of our platform, including new methods for advisors to distinguish their providers, interact the subsequent era, drive up shopper satisfaction and to develop their very own corporations.”
In a letter from Klein, he stated he determined to step down after mulling his expertise co-founding Riskalyze in 2011, and main the agency via 42 quarters of progress to turn out to be “the most important firm I’ve ever run in my profession.”
“After a number of reflection, I got here to the choice that it was time for a scaler—someone who had seen the film earlier than, and grew an organization to billion-dollar scale and past,” Klein wrote.
In accordance with Nitrogen, the change in management had been deliberate for a lot of months and will go seamlessly with out modifications within the agency’s help or providers for wealth managers. Klein will proceed to serve on the corporate’s board, as its largest particular person shareholder, and stated he had no instant plans to tackle a brand new job or begin a brand new firm.
“When one has been operating a marathon for 12 1/2 years, the final query if you attain the end line is ‘the place is the subsequent marathon?'” he wrote.
This yr, Riskalyze rebranded as Nitrogen as a result of Klein stated the title had turn out to be too linked with managing threat, regardless of rising its array of services and products for advisors.
Klein first introduced the rebranding a few yr in the past on the firm’s annual summit earlier than unveiling the brand new title in March. Since its formation in 2011, the agency expanded from its give attention to threat (pouring greater than $50 million into analysis and improvement) to different areas, together with shifting into buying and selling, rebalancing and advertising and marketing automation in 2019, later tax-loss harvesting and house workplace administration instruments, amongst different choices.
Zitting will tackle the function Dec. 4, with Klein remaining on the job till then.