FinMason Solutions Offer Suitability Tracking

If a recommendation is given in a careful and controlled manner, but there is no record made, does that mean it is materially less prudent? 

FinMason has launched two new risk tolerance and compliance products for financial advisory professionals aiming to increase practice transparency and control.

The first, FinScore Pro, “systematically develops a mutually understandable, bright-line agreement on risk from each client and prospect in a quick and uncomplicated way,” according to the firm. The second, FinScope, “provides compliance teams with the ability to screen each client portfolio every night with robust analytics to detect problems before they become problems.”

FinMason CEO and Founder Kendrick Wakeman argues the new product set forms “a unique synergy that constantly assures all portfolios are in compliance with the client’s explicitly agreed upon risk limits.”

As the firm explains, FinScore Pro is designed as “a simple process that guides a client or prospect to identify their ideal level of risk versus reward, even if they have little or no financial background. Instead of just being assigned an obscure label or number, FinScore Pro allows the client to envision and comprehend the amount of risk they should be taking and why it is potentially beneficial that they take on a certain level of risk.”

Then, once a client’s “true risk appetite” has been established, advisers and compliance officers can turn to the new FinScope product to keep portfolios compliant.

“The enterprise-wide solution runs daily checks on each individual portfolio and flags the portfolios that need attention,” Wakeman explains. “If the portfolio is outside of the client’s risk tolerance, the adviser is prompted to have a conversation with the client and/or take corrective action, if necessary.”

Advisors and financial firms interested in a demo can visit