Investment Opportunity

America Has a $30 Trillion Retirement Problem. We Built the Solution.

Equity Risk Sciences™ is the only independent, conflict-free stock risk rating agency in America — with 40 years of data, a 25-year formal study, and a mandate to make investing safer for every ordinary investor.

KEY NUMBERS

$30T+Retail investment assets with no independent risk rating
21% vs. 9%ERS annualized return vs. S&P 500 — 25-year study
40 YearsProprietary data history underlying the nine rating systems
128MAmerican investors with no independent risk framework
15,870Registered RIA firms — all required to act in clients' best interest
91%Of bankruptcies flagged by ERS two full years before failure
13 YearsS&P 500 recovery time from 2000 peak — after falling 49%, then 57%
SAFEInvestment instrument — Simple Agreement for Future Equity

A $44 Trillion Industry With No Obligation to Measure Risk Before Recommending Any Security

Every drug is tested before it reaches patients. Every car is crash-tested. Not one of the 5,000+ stocks held in American retirement accounts carries an independent risk rating. Wall Street has spent decades lobbying Congress to ensure it is never required to provide one.

The S&P 500 fell 49% between 2000 and 2002, then fell another 57% between 2007 and 2009, and took 13 years to recover from its 2000 peak. No advisor was required to warn clients before either collapse. None faced accountability afterward.

A 65-year-old with $800,000 who loses 40% cannot wait 13 years. They are selling into a declining market to pay living expenses — permanently impairing capital that was supposed to last a lifetime. This was not unforeseeable. It was simply unmeasured — by design.

−49%
S&P 500
2000–2002
13 Yrs
To recover
from 2000 peak
−57%
S&P 500
2007–2009
The Fee Conflict — How Money Actually Flows
Current System — Who Gets Paid, and When
Client
Retirement savings, full faith in advisor
Entrusts capital ↓
RIA / Advisor
Earns ~1% AUM fee — same whether clients gain or lose
Buys funds ↓    Sends "buy" reports ↑ (dashed)
Mutual Fund Co.
Fidelity, Vanguard, etc. — paid on total AUM
Buys inventory from ↓
Wall Street
Sells overpriced inventory through the distribution chain
The structural trap: An advisor who moves clients to Treasury bills earns a fraction of their normal fee — and risks losing those clients to a competitor who kept them in equities during a rising market. Caution is structurally penalized. The market climbs not on merit but on the collective silence of advisors who know better and say nothing.

Client bears all losses. Every advisor in the chain keeps their fee.

What No Other Organization in America Does — Independently, Conflict-Free, and With 40 Years of Data

Insurance companies have protected savings for 200 years using one method: measure which risks are more likely to materialize, and manage exposure accordingly. They do not know which house will burn. They know which ones are more likely to — and price and manage risk accordingly.

ERS applies the same actuarial logic to equities. We do not predict which stocks will fall. We identify — through 40 years of data and a formal 25-year study — the financial characteristics present in stocks before they fall: weak balance sheets, unsustainable valuations, deteriorating price trends.

Insurance Co.
Does not predict which house burns
Measures risk by property condition
Prices by measured probability
Protected savings 200+ years
Equity Risk Sciences
Does not predict which stock falls
Measures risk by security condition
Rates by measured probability
40-yr data · 25-yr formal study

ERS operates nine proprietary rating systems — FSN, LI, PRI, 4D, V1, PRC, WMH, GMR, and TTR — each measuring a distinct dimension of equity risk across all 5,000+ publicly traded U.S. securities.

Full methodology at ERS.ai →
25-Year Track Record
21%
ERS Annualized
25-Year Study
9%
S&P 500
Same Period
$100,000 Invested — 25-Year Compound Result
$8.6M
ERS @ 21%
$862K
S&P 500 @ 9%

Past study results do not guarantee future performance. ERS does not predict prices or recommend individual securities. Full study details and independent verification at ERS.ai/proof.

See The Proof™ — 433,500 validated ratings →

"Show me the incentives, and I'll show you the outcome."

— Charlie Munger · Psychology of Human Misjudgment · Harvard, 1995

The Largest Unrated Market in the World Is American Retirement Savings

Every registered investment advisor is legally required to act in clients' best interest. Not one currently has access to an independent, conflict-free risk rating for every security they recommend. That gap is ERS's market.

U.S. ETF Market
$13 trillion — 4,806 funds
$13T
U.S. Mutual Funds
$7.2T
$7.2T
401(k) Plans
$8.9 trillion
$8.9T
Retail Total
~$30T addressable retail market
~$30T
Total RIA AUM
$128 trillion — full advisory universe
$128T
Registered RIA Firms
15,870 firms — all legally obligated fiduciaries
15,870

Five Independent Revenue Streams. One Structural Monopoly on Independence.

No Wall Street firm can produce what ERS produces. The moment any risk rating agency accepts AUM fees or fund relationships, its independence is compromised and its product is worthless. ERS's conflict-free structure is not a marketing position. It is the product.

Stream Model Market
ValueRatings.com Consumer subscriptions — risk ratings for individual investors 128M investors
RIA Licensing Annual license per firm — fiduciary documentation tool 15,870 RIAs
Institutional Suitability scoring for ETF providers, 401(k) platforms $30T market
Legal / Expert ERS ratings as evidence in investor protection litigation Rapidly growing
Legislative If ERS-style disclosure becomes law, every RIA is a licensee Entire industry

Built by the Advisor Who Understood the Problem from the Inside

In 1978, recruited by New York Life in my mid-twenties, I chose equities over insurance products — because they were exciting, clients wanted them, and the technology economy seemed limitless. I took risks I did not fully understand on behalf of clients who understood them even less.

In 2000, I submitted formal reports to the SEC warning that GE and Cisco — then the two most valuable companies in the world — had produced misleading earnings. Three weeks later, Barron's published a major exposé. Both stocks collapsed. Wall Street analysts kept issuing buy recommendations throughout the decline.

ERS was built on the 40 years of education that followed — to measure what I once simply felt, and to give every fiduciary the independent data they need to do the job they are legally required to do.

Raymond M. Mullaney Founder & CEO · 49 years in the investment industry
NASD broker-dealer founder (1982) · New York Times front page (1986) · SEC correspondent (2000, 2025)

What the Investor Is Buying

  • 40 years of proprietary data that cannot be replicated. The historical database is the asset. The nine rating systems are the product built on top of it. No institution starting today could reproduce this in under a decade.
  • A structural moat Wall Street cannot enter. Any firm with AUM fees, fund relationships, or underwriting revenue that tries to compete destroys its own product in the attempt.
  • First-mover in a regulatory inevitability. The Investment Advisers Act (1940), Dodd-Frank (2010), and SEC Regulation Best Interest (2019) created the vocabulary of fiduciary duty without the measurement tools to enforce it. ERS is those tools. The mandate is building.
  • An active legislative campaign via TheFiduciaryMandate.org — with formal SEC submissions in 2000 and 2025. ERS is simultaneously the advocate for reform and the primary commercial beneficiary of it.
  • 91% of bankruptcies flagged two years before failure. The 25-year study is independently verified. 433,500 ratings validated. The proof is public and auditable at ERS.ai/proof.

Download the Investment Overview

Our one-page summary covers the problem, the solution, the market, and the track record. The full five-page investor brief includes market analysis, revenue model, Why Now, and SAFE note terms.

Both documents download immediately as PDF.

Interested in Learning More?

The numbers make the case. If you'd like to discuss the opportunity directly —
or be included in future updates on the ERS capital raise — we'd like to hear from you.

Equity Risk Sciences™ is America's Independent Stock Risk Rating Agency™. ERS does not provide investment advice, manage client assets, or recommend the purchase or sale of any security. The 21% annualized return figure referenced on this page was generated using ERS's rating methodology applied retrospectively over 25 years; it does not constitute a guarantee or projection of future performance. The compound growth figures shown ($8.6M vs. $862K) are mathematical illustrations of the stated annualized rates applied over 25 years and do not represent actual client returns. Independent verification of ERS study results is available at ERS.ai/proof. This page contains forward-looking statements subject to material risks and uncertainties. This offering is available only to accredited investors as defined under Rule 501 of Regulation D. 10 Dorrance Street, Suite 500, Providence, Rhode Island 02903 · ERS.ai · 401-450-4040