Oxford Risk has launched its risk suitability service Investor Compass on Intelliflo office.
The service aims to improve advisers’ client outcomes using psychometric risk suitability questionnaires. They require just three minutes to complete with an investor client. Upon completion and agreement of the suitability questionnaire with the client, reports are automatically sent back to Intelliflo office.
The firm said taking such steps is a crucial part of meeting Consumer Duty requirements, and offers advisers a ‘consistent and robust’ way to evidence their client suitability process.
Oxford Risk said the partnership with Intelliflo has the potential to ‘significantly reduce rekeying and double-keying’ for advice firms by importing clients’ financial circumstances and existing plan data from their fact finds.
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Intelliflo CEO Nick Eatock said: “Having collaborated with Oxford Risk for several years, we know the adviser community will be excited to now have full access to the Investor Compass risk suitability solution.
“In addition to assessing suitable levels of risk, Oxford Risk’s Investor Compass solution determines investors’ financial personality, covering risk tolerance, composure, confidence, familiarity preferences, and impulsivity. Advisers also gain a clear understanding of investors’ knowledge and experience, as well as their sustainability preferences.”
James Pereira-Stubbs, chief client officer at Oxford Risk, added: “We know how important it is to our clients that we integrate with the most popular practice management systems, like Intelliflo office. We look forward to working with more advisers there to help grow their assets under management, increase investor engagement, and meet regulatory requirements.”
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