The latest tech news in wealth management across Europe, Middle East and Africa.

Old Mutual International
Old Mutual International, part of UK wealth management firm Quilter, has released a new risk profiling app for financial advisers to help them assess a client's attitude to risk and then discuss that level of risk with them in a single meeting.

An adviser using the app can submit their client’s answers to a set of 11 questions with the app then calculating a suggested risk profile score of between 1 and 5, with 5 representing the highest risk. Some of the questions ask what their expectations are for their future earnings over the next five years, and whether they have an emergency fund to use in the case of a big unforeseen cost.

The tool will help advisers explain to their clients the risks and potential outcomes of differing investment strategies and will help them manage client expectations of returns. The adviser can then agree with the client their preferred risk level, add any additional comments and then email themselves a PDF summary of the results and save it on their client’s file for audit purposes.

Technology like this app is increasingly becoming an integral part of an international adviser’s business. According to a recent survey of 180 respondents from the international adviser community across the UK, Europe, the Middle East and Asia, commissioned for Old Mutual International, found that just 2 per cent of advisers said technology does not help their business.

Old Mutual International’s risk profiler app is available and free for advisers to download from the Apple App Store and Google Play.