The Markets in Financial Instruments Directive (MiFID) continues to shake up the adviser market. As technology advances, stricter regulation acts as a catalyst for more consumer-focused software. That being said, several players within the remit of risk profiling are making huge strides to not only provide software that adheres with regulatory changes, but also provide innovative ways that helps firms and their clients.

After partnering with Henley Business School (Reading University) and adopting their own Intellectual property (IP), Distribution Technology Elements adds to the Distributions Technology existing risk profiling tool which is perhaps the most well-known systems in the UK. The system is Application programming interface (API) driven, offering integrations with a number of software providers including the most used practice management system Intelliflo’s, Intelligent Office.

Dynamic Planner itself, aids advisers by providing a comprehensive, objective based, investment method with the end result providing white labelled, lifestyle-magazine quality reports at speed.

After partnering with Henley Business School (Reading University) and adopting their own Intellectual property (IP), Distribution Technology Elements adds to the Distributions Technology existing risk profiling tool which is perhaps the most well-known systems in the UK. The system is Application programming interface (API) driven, offering integrations with a number of software providers including the most used practice management system Intelliflo’s, Intelligent Office.

Within the tool is their existing risk profiler which can be completed either by an app available from Apple’s iOS store or link with the inputs automatically populating back into Dynamic Planner Elements or integrated practice management back office. It provides the user with a psychometric questionnaire to measure risk tolerance along with supplementary questions to measure capacity for loss. The tool no longer uses Oxford Risk’s questionnaire but uses their own question set and stochastic projections to highlight the likelihood of achieving a goal and therefore the risk required. Distribution Technology also use their technology to map funds to one of their risk profiles so that advisers can match their clients both at an individual fund level as well as at a portfolio level.

The system has been designed with mobility being one of the main focuses. Prior to the adviser reviewing a case, a user can create a shell case for the client which can subsequently be reviewed by an adviser on a mobile, tablet, computer on the go. Upon logging in, the adviser sees a summary of the case which includes the portfolio value, portfolio risk score, the selected risk profile, review date and where the prior user finished. The system aims at providing a high-level summary whenever a user logs in with further information shown when individual products are clicked into.

Ian says:

“Dynamic Planners Elements use of technology, provides great efficiencies and increased mobility that the modern-day adviser will truly appreciate. As the system continues to be developed, the system will be at the forefront of risk profiling solutions for firms for years to come.”

Robert says:

“Dynamic Planners Elements use of technology, provides great efficiencies and increased mobility that the modern-day adviser will truly appreciate. As the system continues to be developed, the system will be at the forefront of risk profiling solutions for firms for years to come.”

Our Thoughts

GOOD FEATURES

 

  • Dynamic Planner allows Risk profiling to be completed by the client either by an application available in the iOS store or via a link sent to the client.
  • Once information has been entered, it is automatically populated back into Dynamic Planner saving valuable time.
  • Reports are of lifestyle magazine quality which can be delivered to clients in a number of different ways such as email, client portals and physically.
  • Reports can be delivered in a number of ways such as PDF, via the dynamic planner portal or Intelliflo’s Personal Finance Portal.

GREAT FEATURES

 

  • Forecasts are presented via a bell curve which shows the expected returns in a strong, average or weak market.
  • Charges are totaled based on the asset allocation split and the system allows adviser to complete MIFID II obligations without leaving Dynamic Planner.
  • The system allows multiple users to make changes and all actions are logged in the background, which provides a full audit trail of what has been edited and by whom.
  • The system incorpoates a smart security feature where the users identity is verified using server settings ensuring it is the client who has completed the risk profiler questions.

Improvements

 

  • A way the system could be improved is integrating with more Practice Management systems.

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