FinaMetrica Risk Profiling

Aminatidi

Has anyone used FinaMetrica to do a risk profile?

Everything I can find online for free puts me pretty much in 60/40.

Wondering if it's worth the £30 to do one of these as it may be a cheap lesson on my real appetite for risk.

Though I suppose none of these profilers are a substitute for seeing actual money drop off a screen.

JohnWinder

No. Don't think so. The better questionnaires might meet a business's 'know your client' requirement, but how good they are for you to know yourself better could be something altogether different. If you do it how will you know if it was any good?

masonic

A long time ago, I got access to it, or some version of it, for free. It scored me very high, as I anticipated. It was a fair bit more involved than the type of risk-profiling questionnaire used by robo-advice platforms, for example, but I don't think it would arrive at a different answer. I don't think it would be worth paying the money for. And as you say, nothing can prepare you for the reality, where you may feel rather differently.

JohnWinder

https://static.fmgsuite.com/media/documents/c73e0845-b975-4987-81db-80b0a8fed6b0.pdf

Aminatidi

JohnWinder said:

https://static.fmgsuite.com/media/documents/c73e0845-b975-4987-81db-80b0a8fed6b0.pdf

Shame it can't spit out the result too 😀

Aminatidi

I did one of these today as it's mentioned in Tim Hale's Smarter Investing plus I'm at a point where if I include DC pensions I've got a touch over £500K AUM so it's getting serious.

Score came out as 47 which was slightly but not massively less than I was perhaps anticipating.

It's confirmed there need to be some changes.

dunstonh

Remember that risk profilers are not reliable enough to be taken in isolation.  They are the start of a conversation on risk but not the be all and end all.

Aminatidi

dunstonh said:

Remember that risk profilers are not reliable enough to be taken in isolation.  They are the start of a conversation on risk but not the be all and end all.

Agree entirely.

I've been aware for some time that I don't think I should be 100% equities in my ISA there's just been a lot of inertia over me doing anything about it.

This isn't just a knee-jerk but it helps form that view that I need to do something about it.