29 October 2012
Skandia International, part of Old Mutual Wealth, today announces the launch of a new Risk Profiler iPhone app to complement its existing online Portfolio Builder tool.
The app, which is designed to help advisers with the first part of the portfolio building process, assesses a client’s attitude to risk without the need for online access. Advisers ask their clients 11 questions which, once evaluated, will produce a score between 1 and 5, with 5 representing the highest risk level. The app quantifies each risk level by showing the range of potential investment returns that are likely to occur for each specific risk profile. This output is designed to help advisers explain in real terms the most likely scenarios associated with their clients’ perceived appetite for risk, enabling them to recommend investment solutions based on the levels of loss or gain their customers are willing to accept.
The Risk Profiler app can be downloaded from the Apple App store as well as via the Portfolio Builder online. Once downloaded, a secure link is created between the adviser’s Skandia International online profile and the app on their iPhone. This enables the risk assessments carried out remotely to be uploaded to the adviser’s Portfolio Builder online profile automatically, allowing them to complete the remaining part of the portfolio building process at a time that suits them and their client.
Skandia International’s Portfolio Builder tool can help financial advisers identify their clients’ attitude to risk and build investment portfolios that directly match that risk level. Investors can opt for a complete investment solution, where the asset allocation as well as the underlying investments, have been selected on their behalf to match a specific risk level. Alternatively, they can choose a model portfolio with a pre-defined asset allocation which matches their risk score and, with the help of their financial adviser, identify a range of underlying investments to create a portfolio bespoke to them.
Phil Oxenham, marketing manager at Skandia International, comments:
‘Our Portfolio Builder is enjoying a great deal of success and is currently used by almost 9000 advisers worldwide. Over the past year, user feedback has confirmed the importance of developing an application which could enable the risk assessment process to be carried out outside the adviser’s office environment – where online access may not be available. The Risk Profiler app has been developed in response to this feedback, initially for iPhones, although depending on demand, we may look to extend its availability to users of other smart-phones. We remain firmly committed to improving the overall investment experience for both advisers and their customers, saving both parties time and making the overall process as efficient and convenient as it can be.”
This press release is for journalists only and should not be relied upon by financial advisers or customers.