FinaMetrica takes risk to UK

FinaMetrica (formerly ProQuest) has successfully launched in the United Kingdom following a nine-month pilot program, that has coincided with the completion of the 70,000th risk profile by the software provider.

As part of the launch, FinaMetrica has struck a deal with thePrestwood Groupin the UK, which is incorporating the risk profiling system into its financial planning software and flagged plans to extend the integration to its operations in Australia.

The profiling system launched in the UK is already used in six other countries including Australia and Hong Kong.

The expansion follows FinaMetrica’s deal with software providerXplanTechnology in February to integrate the risk profiling software to meet regulatory ‘gap analysis’ requirements.

FinaMetrica’s co-founder and chief executive officer Geoff Davey says increasing levels of uptake of the risk profiling system is attributable to the growing recognition that needs-based planning requires an easy to use comparison tool for assessing investment-strategy risk.

"By delivering a profiling tool and an easy 'plug-in' methodology for integrating risk profiling results into the planning process, FinaMetrica is helping financial risk profiling become an increasingly common and valuable client experience,” he says.

"And, of course, we are very proud to be exporting Australian financial planning know-how to so many other countries and contributing to Australia's reputation internationally for best-practice financial planning," Davey says.