Towry adopts FinaMetrica risk profiler

Carmen Reichman
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Wealth manager Towry has signed a deal with risk profiling software developer FinaMetrica, which will see the firm's risk tolerance software rolled out across Towry's financial planning and investment processes.

The deal will give advisers access to access to FinaMetrica's newly released 12 question risk tolerance test and its 25 question test, helping them match investments to the needs of their clients. Risk profiling software has been used by advisers as a tool to ensure the delivery of suitable financial advice based on a client's risk tolerance. But the Financial Conduct Authority (FCA) has recently warned about advisers relying solely on risk profilers when matching clients with funds. Percival said although the regulator is happy about advisers using risk-rated funds it has concerns...

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