Scottish Widows platform adds psychometric testing tool

The new testing tool is integrated with end-to-end investment suitability software tool Oxford Risk Investor Compass. According to Scottish Widows, the tool assesses customers' financial circumstances and risk capacity, preferences for responsible investing, and investment knowledge and experience. It also assesses a client's "financial personality" through psychometric testing, which measures willingness and ability to take investment risk. Advisers are expected to better understand their clients' behaviours and attitudes towards responsible investing. These assessments are the...