Financial advisers using AdviserLogic's CRM system will now be able to assess a client's risk tolerance score following a partnership with global service provider FinaMetrica.
The risk tolerance solutions provider has integrated its 25 and short 12 (soon to be 10) question psychometric risk tolerance profilers with AdvisorLogic's CRM.
AdviserLogic will link directly to FinaMetrica's website to synchronise client data using an API - an Australian-first for the risk assessment company.
"[The partnership] allows our mutual advisers the ability to streamline delivery of their risk profiling tools to clients as well as to monitor risk tolerance directly from the AdviserLogic CRM. The ability to simplify the delivery of client risk assessments and sync data with AdviserLogic CRM can only enhance conversations surrounding client suitability," AdviserLogic Group co-founder and chief executive Daniel Gara said.
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The risk report will allow investors to see how they have answered questions differently from other people, enabling financial advisers using AdviserLogic to zero down on mismatches between the risk an investor can take and their tolerance, the company said.
"We believe this integration will appeal to advisors and advisory networks seeking a valid, reliable and defensible suitability process,'' FinaMetrica co-founder Paul Resnik said.
The twenty-year-old FinaMetrica Risk Tolerance Toolkit was developed with University of New South Wales and is now maintained with London School of Economics academics.
Its risk tolerance solutions have been integrated with financial software in the USA and UK.
"We are working on several other integrations which we will be announcing shortly," FinaMetrica's Resnik said.