Read the latest insights on risk profiling, suitability, financial planning, portfolio planning and the advice industry at large from our internal experts.
Low investment returns pose significant risks for investors, and their advisors. Their returns may not be sufficient to achieve their financial goals. But if they then go ‘chasing yield’ they can fall down the mineshaft of illiquid assets and become trapped. Hundreds of thousands of investors in the United Kingdom are living that pain right…
Suitability standards continue to spread around the world, with Canada enacting its ‘Client focused reforms’ in October. The new Canadian rules codify how know-your-client, know-your-product and suitability determinations should be applied. Meanwhile, in the United Kingdom new executive accountability rules are giving sharp teeth to any bite from the regulator as it enforces the MiFid…
A skilled advisor can learn a lot about a client’s risk experiences and attitudes in a conversation. But it may only be half of the story they need to know. There is other critical information that won’t come to the surface that way — to drill-down to it, you need to use scientifically rigorous testing.…
With George Hartman George Hartman is a five-time best-selling author of practice management books, popular columnist and a global speaker on issues for financial advisors. He has been a long-time Board member of PlanPlus Global Inc. and joins Shawn Brayman today to explore what the new SuitabilityPro™ suite of software means for FinaMetrica users, PlanPlus…
Dealing with a client with diminished financial capacity is an inevitability for most financial advisors. But it’s sometimes done in an unstructured or ‘seat-of-the-pants’ way, which can leave both advisor and client exposed to risks. One of the best protections, for both sides, is the client’s stated goals, values and financial plan. These provide a…
There’s a new elephant in the American financial services room, with the US$26 billion deal for Charles Schwab to buy competing broker TD Ameritrade. It’s being touted as a force to take on the national banks — and price is the key battle ground. The danger for smaller creatures is that they can end up…
Free trial – available now! https://planplusglobal.com/suitabilitypro/proplanner/ ProPlanner is our newest evolution in comprehensive goal-based financial planning software. ProPlanner builds on our well-known Planit software, to assist advisors in gaining better: Productivity — getting clients quickly engaged in making financial decisions Advice — full goals-based planning tailored to financial and emotional needs Relationships — in-depth understanding of…
New research has revealed the deep flaws in disclosure-based regulations, with examples from the US, UK, Europe and Australia showing that relying on disclosures often fails to prevent harm to consumers — and can, in some cases, actually cause them harm. Suitability in financial advice is the answer to the many problems associated with disclosure-based…
It’s tempting to equate financial risk taking with general risk taking, as it seems to make intuitive sense. But the two are not the same, and it is dangerous for advisors to treat them as if they are. There are different types, or ‘domains’, of risk. Some of the common domains in risk models include:…
FinaMetrica Profiler is part of the SuitabilityPro product suite, from PlanPlus Global. Profiler extends the FinaMetrica world-leading psychometric risk tolerance test by adding the functionality of goal planning and portfolio selection. It’s FinaMetrica – with more! Everything you know and love about FinaMetrica’s world-renowned risk tolerance measurement is in the new Profiler — along with…
SuitabilityPro™: ProTracker will also be available for trial soon.
