Risk-profiler FinaMetrica is to set up a UK-based sales team in a bid to grow its customer base.
The Sydney-based company currently serves around 1,300 advisers in the UK - and 3,000 intermediaries worldwide - but does not have a UK-based sales and support unit.
"Having a local sales team will be a major advantage, but it's really the client has to make up their mind whether they want to use it," said co-founder and director, Paul Resnik.
He praised the UK's "vibrant" group of trade bodies for encouraging better risk-profiling: "There is an extraordinary collegiate nature within the Institute of Financial Planning (IFP) membership," he said.
"In Australia we have one body equivalent to the PFS, and the other is a throwback life agents group."
Central to FinaMetrica is what Resnik called its "rich data link", which allows advisers to accurately link the tool's psychometric questionnaire to a range of investment choices.
Advisers need to have detailed databases of products that disclose the real risk, rather than simple labels like ‘cautious' or ‘balanced', he said.
"You could have three balanced funds, and one has 30% in equities, one 50% and one 80%, and you really wouldn't know if you were over or underweight," he said.
"It's all that stuff that leaves you vulnerable to underperformance. Imagine you have three funds and they are all overweight BP and then things blow up, as they did in the Gulf of Mexico, and all three funds get hammered. It's getting advisers to that sort of level of detail."
Resnik will be visiting the UK between March and June, speaking at a number of workshops around the country hosted by Voyant, Nucleus and the IFP.
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