FinaMetrica 10-Question RTQ Now Available In Morningstar’s Investment Planning Tool And As A Set Of Enterprise Components

FinaMetrica 10-Question RTQ Now Available In Morningstar’s Investment Planning Tool And As A Set Of Enterprise Components

Jason Stipp, Director of Product Management, Financial Planning, Morningstar

We’re happy to announce that the FinaMetrica 10-question RTQ, response readout, and Suitability Score is now available in Morningstar’s Investment Planning Tool (IPT) for Advisor Workstation as well as through our Enterprise Components channel for integration to third-party platforms.

The FinaMetrica Risk Profiling System, which came to Morningstar as part of the PlanPlus acquisition earlier this year, brings statistical robustness and transparency to the risk tolerance questionnaire and profiling process, including new detail on RTQ results and mapping to suitable portfolios for client goals.

A key value of FinaMetrica is the 1.5 million clients who have already taken its questionnaire over the last 20+ years, which provides a rich data set to place every new client into the best risk group with statistical and academic validity. The result for the client is a detailed risk profile, and the advisor gets a solid basis for the investment proposal as well as a defensible decision trail in support of the recommendation–a hugely important compliance pillar in today’s enhanced regulatory environment.

We are in the process of replacing the Morningstar legacy RTQ in IPT with FinaMetrica’s 10-question RTQ, which means all current and future clients who used the Morningstar legacy RTQ in IPT will now get the FinaMetrica RTQ, risk score, and Suitability Score for their investing objective based on its time horizon. The Suitability Score then maps to one of Morningstar’s standard risk profiles and asset allocation models, against which the advisor can recommend a suitable portfolio for the client and objective.

The same workflow components are also now available through Enterprise Components, both as UI components and via API:

EC UI Components for FinaMetrica (via Morningstar Developer Site)

EC APIs for FinaMetrica

I have been using FinaMetrica for over 17 years for onboarding new clients. They like the extensive value of the reports; but what we appreciate is the innovations in technology, the value of the client-facing materials and the development of the life-long client relationships as I get to really know their behavioral tendencies. FinaMetrica has assisted me in building a very successful practice and we highly recommend it for any advisor who wants to enhance the overall value of their client relationships.

Ron Wilkinson - Portland, Oregon, USA
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