atWORK 6 integrates Finametrica into its Wealth Module

PIERRE DIPPENAAR Head: Software Development, Finametrica

Cloud-based software solution atWORK has scored a coup by integrating Finametrica’s award winning risk-profiling toolkit into its newest financial planning software.

Advisers who weren’t already convinced of the value of risk profiling have surely had their minds changed by COVID-19. The pandemic has taught both advisers and investors the true meaning of risk. And it’s underscored how vitally important it is to not only be aware of risk profiles, but also to measure them properly and to use these findings as one of the cornerstones of a comprehensive investment strategy.

Which is why atWORK is thrilled to announce the integration of Finametrica’s industry-leading risk-profiling toolkit into its newest Wealth module as of 1 August 2020.

What is atWORK?

atWORK is a cloud-based solution for the financial services industry. Their latest version, atWORK 6, combines client and practice management, data gathering and import, compliance management and financial planning tools in one super-secure package. atWORK has over 9 000 users in South Africa.

Why risk profiling matters

Risk tolerance is a measure of how emotionally comfortable someone is with taking financial risk. Knowing a client’s risk profile can help an adviser assess whether the client will be willing to allow their portfolio to diminish in the short term, in return for the chance of bigger long-term returns.

Being a psychological trait, a client’s risk tolerance is best measured with a psychometric tool. Having a clear idea of how comfortable a client is with investment ups and downs allows an adviser to make sure a client doesn’t panic or, worse still, blame the adviser when a risk is realised.

Why Finametrica?

Developed by Organisational Psychologists at the University of New South Wales, Finametrica is not only more accurate than other risk-profiling tools, it’s also much quicker. In only 15 minutes, an adviser can ascertain a client’s risk profile and compare it to over a million other profiles.

Finametrica was recently crowned both Best Risk-Profiling Solution at the WealthBriefing Swiss Awards 2020 and Best Risk-Profiling Service for Advisers at the 2020 Professional Adviser Awards.

How it works

The integration will be welcomed by advisers who are already using Finametrica and by those who’ve never used risk-profiling software.

• atWORK has negotiated a discounted rate, which means atWORK 6 users will pay less than they would if they signed up for Finametrica directly

• Advisers will be able to access all their planning tools from within atWORK 6, eliminating the need to fire up multiple programs

• The profiling results are included in the atWORK 6 reporting function, which will make advisers’ lives much easier.

In other words, the integration will save both time and money.

This is just the start

“atWORK 6’s embrace of ‘open systems’ allows seamless integration with third-party software from risk profilers, commission systems, antimoney laundering providers and much, much more,” explains Pierre Dippenaar, who heads up software development for the firm. “We’ve got several new tools in the pipeline, including one that will make it a whole lot easier for clients to manage signing documents online.”

To set up an interview with atWORK’s Group Business Development Officer, please email trevor@work.za.com or call 0861 ATWORK.