Distribution Technology unveils risk profiling app for iPhone

Distribution Technology (DT) has launched a version of its risk profiling tool for the iPhone.

Using Distribution Technology's core 10 question psychometric risk questionnaire, the app provides advisers with a simple and intuitive way of educating clients about investment risk and risk profiling prior to a meeting.

Nick Bamford, chief executive of Informed Choice, says: "DT's Risk Profiling App on the iPhone is a fantastic development. We have long held the view that technology like this is going to enhance the client/adviser relationship.

"Identifying client attitude to risk is an important part of what we do and this will definitely help the client to think about investment risk issues ahead of engaging with us for financial planning services.

"The retail financial services profession is moving with the times and use of technology like this is going to make a real difference."

Distribution Technology thinks devices like the iPhone and the recently announced iPad are an effective way of engaging the end user and advisers in making technology content more accessible. Consequently, it plans to move more of its solutions to such technologies over time.

Ben Goss, CEO of Distribution Technology, says, "The new technology enables you to use pictures rather than hard facts and figures in a quite unique and powerful way.

"If you are a financial adviser, that means building a picture of someone's finances, if you are a doctor perhaps its illustrations of the patient's physiology, an architect a building, a lawyer a graphical representation of the arguments perhaps.

"We believe that Net tablets and associated rich internet applications will usher in a radically new dynamic between the customer and their adviser. Barriers will come down and we will enter a new age of customer-adviser collaboration."

Mark Loosmore, director of AT8 Group, also supports the view about the importance of this emerging technology. "We are encouraged to see technology providers investing in devices like the iPhone," he says.

"Distribution Technology are amongst the leaders with their Attitude to Risk app as are True Potential who recently launched the ability for end clients to update, review and analyse their investment portfolios.

"These innovators are helping to increase the methods and options to interact with the customer - something that is likely to be an increasingly important part of improving customer service."