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Only one in four (25%) European wealth managers would strongly recommend the tools or software they use to assess the suitable risk level of clients, according to a new study from behavioural finance experts, Oxford Risk. Its study with wealth managers across France, Germany, Netherlands, Spain, Italy, Switzerland, and the Nordics found that 15% of wealth managers are unsure about recommending the tools and software they use while 4% would actively warn others against using them to assess the suitable risk level of clients.
Less than one in three (31%) wealth managers strongly agree that they have access to the right tools or software to effectively assess an investor’s suitable risk level, the research by Oxford Risk, which builds behavioural risk suitability software...
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