FinaMetrica announced on Wednesday that it is integrating with Redtail Technology to offer FinaMetrica’s risk tolerance scores in the Redtail CRM.
FinaMetrica scores clients’ risk tolerance based on a 25-question and a new 12-question psychometric profile.
“We believe this integration will appeal to advisors and advisory networks seeking a valid, reliable and defensible suitability process,” Tyler Nunnally, FinaMetrica’s U.S. strategist, said in a statement. “FinaMetrica has been at the forefront of risk profiling for almost 18 years. Our system has been tested and proven accurate through several market corrections by hundreds of the world’s best financial advisors.”
According to Nunnally, Redtail will “link directly to FinaMetrica’s website to synchronize client data.”
Mario Canas, a spokesperson for Redtail, said that the deal will allow advisors to “streamline delivery of their risk profiling tools to clients as well as to monitor risk tolerance directly from Redtail CRM. The ability to simplify the delivery of Client Risk Assessments and sync data with Redtail CRM can only enhance conversations surrounding client suitability.”
This is FinaMetrica’s third collaboration this year. In February, the firm announced a collaboration with RiXtrema, which provides portfolio stress testing.
“A strong advisory practice requires three things: a detailed assessment of the investor’s risk tolerance; a thorough understanding of the investor’s goals and financial plans; and a robust estimation of portfolio risk and construction of suitable portfolios,” RiXtrema President Daniel Satchkov said in February. “Equipped with the best tools available, our subscribing advisors can provide maximum protection and value to clients, successfully compete in the advisory marketplace, and effectively stay ahead of changing market scenarios.”