Equity Risk Sciences

About Equity Risk Sciences

Equity Risk Sciences (ERS) is an independent stock risk rating agency that provides quantitative, evidence-based ratings on the probability and magnitude of stock price changes for institutional investors and financial advisors. The company was formally incorporated in March 2021, but its methodologies have been in development for over a decade.

The company's founder and CEO is Raymond Mullaney, whose career in finance began in 1976. He established a broker-dealer and an SEC-registered investment advisor in 1982. The conceptual work for ERS started in 2013 when Mullaney hired mathematician and data scientist Tom Harpin to develop technology-driven, safer investment strategies. Their goal was to use advanced mathematical modeling on big data to quantify the financial and price risks of individual stocks. ERS positions itself as America's first and only independent stock risk rating agency, emphasizing that it does not manage money, issue recommendations, or receive payments from the companies it rates to ensure objective, conflict-free analysis.

ERS's business model is centered on providing data and risk ratings to fiduciaries to help them meet their legal duty of care by avoiding preventable and catastrophic losses. Revenue is generated through institutional subscriptions, licensing of fiduciary tools like the Fiduciary Approved Stock List™, and premium advisory services. The company's technology utilizes proprietary models powered by SEC-filed financial data and over 35 years of price history. Key products include the Fiduciary Risk Navigator™ (FRN™), which provides a composite rating of a stock's suitability, and the Durability Risk Indicator™ (DRI™), which assesses financial structure and resiliency. In July 2025, the firm announced a $20 million capital raise to fund a national awareness campaign and the rollout of its institutional-grade platform, InvestLabs.ai.