Finametrica wins award for Best Risk Profiling Solution at US Family Wealth Report 2016

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Paul Resnik

FinaMetrica has been crowned ‘Best Risk Profiling Solution’ at the 3rd Family Wealth Report Awards 2016. The independently owned Australian-based business says the award is a much appreciated confirmation that it provides a best-of-breed tool for measuring risk tolerance to better match portfolios to the needs of investors.

FinaMetrica won the award for the second time for best Risk Profiling Solution, which recognises the best “technology solution to help wealth managers assess and document the risk appetite of clients.”

According to the judges, FinaMetrica “is rightly regarded as one of the early pioneers in this area and now has impressive global reach.”

Co-founder and director Paul Resnik said the award’s credibility will assist in FinaMetrica’s move to providing its suitability services to robo-advisers. Automation of advice is an agenda item in most countries as governments and businesses wrestle with a shortage of quality personal advisers. A recent FINRA report in the US on weaknesses in robo-advisers emphasises the need for defensible risk tolerance practices.

“We are delighted to be recognised by the US Family Wealth Report Awards 2016 for the second time. Being able to accurately measure an investor’s risk tolerance is critical to providing advice that is suitable and in the client’s best interests. Investors with portfolios that take into account their risk tolerance are less likely to be overwhelmed by anxiety and emotional turmoil when markets fall,” said Resnik.

Tyler D. Nunnally, FinaMetrica US Strategist, said: “It is truly an honor to be the two-time winner of this prestigious award. To be acknowledged as the best risk profiling solution by such an esteemed panel of industry leaders is a testament to FinaMetrica’s great work in North America and sterling reputation across the globe.”

Showcasing ‘best of breed’ providers in the global private banking, wealth management and trusted adviser communities, the awards were designed to recognise companies, teams and individuals which the prestigious panel of judges deemed to have ‘demonstrated innovation and excellence during 2015’.

ClearView Financial Media’s CEO, and Publisher of Family Wealth Report, Stephen Harris, was first to extend his congratulations to all the winners. He said: “The firms who triumphed in these awards are all worthy winners, and I would like to extend my heartiest congratulations. These awards were judged solely on the basis of entrants’ submissions and their response to a number of specific questions, which had to be answered focusing on the client experience, not quantitative performance metrics. That is a unique, and I believe, compelling feature. These awards recognise the very best operators in the private client industry, with ‘independence’, ‘integrity’ and ‘genuine insight’ the watchwords of the judging process – such that the awards truly reflect excellence in wealth management.

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