What we mean by Empowering Suitability through technology

Much like physicians abide by a Hippocratic Oath that sets ethical ground rules for their profession, ‘suitability’ regulations around the world are increasingly requiring all participants in the manufacture and distribution of financial services to act in the best interests of customers. From country to country, suitability rules vary slightly. But essentially, they exist to ensure the industry ‘does no harm’. Suitability can only be achieved when providers of financial products, fund managers, advisors and other distributors all agree to work to the common aim of improving customer outcomes. Without a consistent approach to providing ‘suitable’ financial products and services, there is a danger that some might take advantage of customers. Quite rightly, regulators are toughening their stance on poor practices and are requiring financial services companies to evidence they have applied their technology solutions, knowledge, experience and professional judgment in delivering products and services, and making recommendations that are “suitable”. That’s exactly what we do. Morningstar empowers suitability through best practices risk profiling and financial planning technology solutions, coupled with professional judgment. This approach ensures that ‘customer best interest’ remains at the forefront of every financial services business we partner with.

What’s your client’s portfolio Suitability Score?

The SuitabilityPro™ platform generates the industry’s first scientifically-validated Suitability Score™. This gives advisors and clients greater confidence that recommended portfolios map to personal risk profiles and financial objectives.

Power, Professionalize and Protect your Practice

The combination of FinaMetrica’s risk profiling application and PlanPlus’ financial planning software into a single product that can be accessed at various levels presents a unique offer to the market. To the best of our knowledge, there is no other fully integrated suite of software tools to address the issue of suitability that is so academically sound and validated through actual use by advisors.

I have been using FinaMetrica for over 17 years for onboarding new clients. They like the extensive value of the reports; but what we appreciate is the innovations in technology, the value of the client-facing materials and the development of the life-long client relationships as I get to really know their behavioral tendencies. FinaMetrica has assisted me in building a very successful practice and we highly recommend it for any advisor who wants to enhance the overall value of their client relationships.

Ron Wilkinson - Portland, Oregon, USA
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