Capita Financial Software has entered the increasingly competitive risk-profiling market with the launch of its Synaptic Modeller tool.
The system combines attitude to risk assessment with lifestyle projections, and claims to address a number of concerns outlined by the Financial Services Authority (FSA) on the use of third party tools when assessing risk.
A survey of eleven tools by the regulator at the beginning of 2011 found nine contained significant weaknesses that could cause output flaws for clients.
Managing director Adam Byford said the tool had been specifically designed to ensure a client's capacity for loss is properly taken into account.
"Unlike other systems in this space, Modeller is highly configurable, allowing advisers to plug in their own investment strategy, instead of using those designed by the software supplier," he said.
The firm has signed a five-year deal with In Partnership, which contains 600 advisers including the Whitechurch network, along with separate deals with Network Direct and IFA consolidator Bellpenny.
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