A digital approach ensures consistency and addresses the potential for adviser bias.
With various resources like an explainer video, choice modelers and on-screen text, the tool aims to increase the chance of members understanding critical concepts before making a choice.
It directly addresses the trade-off decisions the member needs to make between the return outcomes they seek and the volatility.
Human emotions are important to consider in the advice process, thus, this tool accounts for the need for how a member will feel in different market conditions.
IFS offers integrated services to embed this tool into your digital or human advice offerings.
The tool can be tailored to align seamlessly with your branding requirements, encompassing your preferred brand colors, fonts, and icons.
IFS' risk profiler will undergo periodic updates to ensure alignment with evolving underlying assumptions.
The video illustrates how the digital risk profiler works while educating members on the various market conditions they should be aware of and the potential risks that they could encounter.
After viewing the video, members will proceed to a page where they can input their account balance and select a portfolio that best aligns with their risk appetite and return expectations.
Members validate their choice by answering a series of challenge questions. They have the flexibility to revisit their choice of portfolio if they remain uncertain with their choice.
Upon selecting a portfolio or making changes, members will be presented with a summary of information to confirm their agreement with the risks and potential returns associated with their chosen portfolio.
