The last major stock market downturn clearly demonstrated the inadequacy of many risk assessment tools deployed by financial service professionals. With the possible exception of FinaMetrica, which was used by only a very small percentage of the adviser population at the time, the tools available a decade ago proved woefully inadequate at predicting how clients would react during a major market downturn. As a result, far too many clients found themselves with portfolios that were inappropriate. In many cases, this resulted in emotional anxiety and/or financial loss.
With the current bull market over eight years old, it seems like an opportune time to ensure that clients and prospects are not shouldering more risk than is appropriate.
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