Podcasts about finametrica

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In this episode with Paul Resnik, the founder of Finametrica, we talk to Paul to discuss the current trends around the world when it comes to Financial Planning. Paul doesn't pull any punches in telling Adam his views on the past and the future and why he is building a next generation type financial planning firm himself. This is a really interesting perspective and we also cover off risk profiling and suitability in a candid way.

In this episode with Paul Resnik, the founder of Finametrica, we talk to Paul to discuss the current trends around the world when it comes to Financial Planning. Paul doesn't pull any punches in

In this 22th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host shares a recording of his presentation at the Wealth Professional Summit on Leadership and Technology that occurred on May 30th, 2018 in Toronto at The Westin Harbour Castle. Jason’s discussion covers a series of tech tools that are of use to financial planners and advisors. Show Notes:● 01:06: – Technology Tools for Practice Management and Efficiency is the name of Jason Pereira’s talk.● 01:42: – A trend in the FIntech space is Application Programing Interface (API) that allows systems to communication with each other like Facebook to Google.● 02:51: – Zapier focuses on creating APIs.● 03:50: – Canadian-based Hootsuite allows you to preprogram social media content and does his podcast for under $100 per episode.● 06:34: – ScheduleOnce allows people to see your availability for meetings and request a meeting and SalesForce.com for CRM and data platform.● 08:53: – Ring Central is a voice over internet protocol company that will allow you to have a standardized phone system but also allows you to call from your work number from anywhere.● 12:02: – Woodgate Financial at IPC Investment Corporation sends clients 4 things: 1.) Invoice, 2.) Access to a personal financial management platform 3.) Online Questionnaire 4.) Risk-assessment Question● 13:15: – Fathom is a reporting and visualization tool that produces stunning reports for business profitability.● 14:00: – Honest is a personal financial management platform that does data aggregation, relationship tracking, data vault, and secure communication channel.● 15:40: – Precise FP is an online questionnaire and is a FinaMetrica risk-tolerance questionnaire.● 18:15: – Finally Technology is a company Jason and his partner launched to solved Fintech Technology problems, including a CRA data-scraping tools for SalesForce.● 21:44: – Jason created an Insurance Needs Assessment Tools spreadsheet.● 24:41: – Last Pass is a password management system to place all your passwords in a digital locker.● 27:19: – Google Authenticator is is a software token that implements two-step verification options.● 28:29: – Slack is for collaboration and SalesForce chat for chatting through SalesForce.com.● 31:00: – The future of financial planning is letting AI handle client data points and focus on human relationships and needs.● 35:34: – Where are you feeling pain?3 Key Points:1. Ring Central is a voice over internet protocol company that will allow you to have a standardized phone system but also allows you to call from your work number from anywhere.2. Woodgate Financial at IPC Investment Corporation sends clients 4 things: 1.) Invoice, 2.) Access to a financial management platform 3.) Online Questionnaire 4.) Risk-assessment Question.3. Fintech Technology problems, including a CRA data-scraping tools for SalesForce.Tweetable Quotes:- “So you know how we talk about goals-based planning in this industry? Guess what, we can actually have goals-based reporting for the first time.” – Jason Pereira.- “The invoice I send them (clients), it’s actually done through our accounting system Zero. Zero is a cloud-based accounting system, that frankly is a million times better than anything I have ever used before.”– Jason Pereira.- “The reality is that data rights are one of the biggest contentious issues in the world right now.”– Jason Pereira.Resources Mentioned:● Facebook – Jason Pereira’s Facebook● LinkedIn – Jason Pereira’s LinkedIn● https://www.finally.technology/ – Website for Finally Technology See acast.com/privacy for privacy and opt-out information.

Summary:In this 6th episode of the Fintech Impact podcast, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Shawn Brayman, the CEO of PlanPlus, a prominent Canadian source of financial planning software. Jason and Shawn discuss how PlanPlus has grown, their focus on research, and how to evolve financial planning services ethically for their customers.Show Notes:● 01:23 – PlanPlus is Canadian-based company doing financial planning with a multi-currency, multi-jurisdictional, and multi-lingual global platform— focused on research and best-practices.● 02:48 – PlanPlus spun out from a larger Hewlett Packard ISV back in about 1985.● 05:14 – PlanPlus acquired FinaMetrica from Australia, the home of risk tolerance testing.● 05:49 – In 2001, PlanPlus went to the cloud early.● 06:42 – They have planners in 20-30 counties and about 50 that are supported with the software.● 11:34 – The merger with PlanPlus and FinaMetrica currently involved 60-70 of PlanPlus’ clients using FinaMetrica.● 21:10 – Fintech is a redefinition of how we can apply technology.● 26:33 – Millennials are used to immediacy. If Amazon can ship purchases in the same day, why does it take so long to pull together data for financial planners?● 30:30 – Amazon is talking about getting into checking accounts.● 32:27 – PlanPlus’ has a research commitment to focus on science and not personal biases.● 38:42 – The Journal of Financial Planning and the Financial Services Review by the Academy of Financial Services are the key industry journals.● 40:07 – Canada is in the bottom 10% on planet Earth for what they charge in embedded fees.● 44:15 – In Australia, only 25% of financial planners pass the competency test. 3 Key Points:1 PlanPlus acquired FinaMetrica from Australia, the home of risk tolerance testing.2. Millennials are used to immediacy. Data for financial planners needs to catch up to that faster speed.3. The Journal of Financial Planning and the Financial Services Review by the Academy of Financial Services are the top industry journals. Tweetable Quotes:- “Basically, PlanPlus was actually a spin-out from a larger Hewlett Packard ISV back in about 1985.“ – Shawn Brayman- “Customer-wise, we have planners or advisors…running around 20 to 30 different countries.“ – Shawn Brayman- “Canada is in the bottom 10% on planet Earth for what we charge in embedded fees.” – Shawn BraymanResources Mentioned:● LinkedIn – Jason Pereira’s LinkedIn● Facebook – Jason Pereira’s Facebook● Woodgate Financial – Website for Woodgate Financial● LinkedIn – Shawn Brayman’s LinkedIn page● Twitter – Shawn Brayman’s Twitter page● PlanPlus – Shawn Brayman's Twitter page See acast.com/privacy for privacy and opt-out information.

Summary:During the 3rd episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Paul Resnik, Co-founder and Director at FinaMetrica. As a risk assessment company, FinaMetrica provides tools for financial advisors to figure out the risk tolerance of their clients. Paul Resnik shares his history in the industry, the uphill battles that FinaMetrica has faced, and what it will take to turn financial advising into more of a science than an art.Show Notes01:55 – Paul Resnik started FinaMetrica in 1994, but Paul has been in the industry for almost 50 years.● 02:17 – Changes in Australia occurred: the ability to consolidate investment products onto a single platform and people not being prepared for their portfolios crashing.● 04:25 – Risk asseement was met with hesitation back in 1994 and now. Planners often find it intrusive.● 07:26 – FinaMetrica took four fours to assemble the 25 questions used in their psychometric test – after trying out 150 questions. They have done almost 1.2 million tests.● 09:08 – Men tend to be more risk tolerant than women. Financial workers and highly confident people tend to be more risk tolerant than their clients. Factors that tend to not have any impact are age, education, and experience.● 11:47 – FinaMetrica charges the most in the global marketplace for their risk tolerance test. Their clients tend to be personal financial advisors in the approximately 20 countries that they work in.● 12:17 – FinaMetrica starts with a 25 or 12 question questionnaire to measure financial risk tolerance juxtaposed against ethical, physical, and social tolerances to determine an average score and range.● 16:56 – They link results to portfolios that have ranked at a similar level against a range of scenarios including: nominal returns, highs and lows, adjusted for inflation, 10 worst falls, how long it took to crash and recover, and 10 highest rises.● 21:56 – FinaMetrica, based in Australia, is merging with PlanPlus, a financial planning company based in Toronto Canada. 90% of FinaMetrica’s revenue is international. They integrated their systems roughly 10 years ago and have looked for joined clients.● 24:49 – The cost to implement FinaMetrica into their practice: $800-900 a year in various countries.● 26:15 – Thinking fast is our great survival. Thinking slow hurts, because people are too busy thinking and not paying attention. People thinking fast are using mental shortcuts/intuition.● 29:31 – Survey in Georgia of financial advisors had results all over the place – including the same client that received different answers from the same planner.● 35:00 – Planner’s unfortunately often project their own level of risk tolerance onto their clients and the people running the money project their risk tolerance onto the advisors.● 37:13 – Paul Resnik left the corporate world in 1991 and established a life company and an asset management business a few years prior to that.● 38:29 – Competitors of FinaMetrica include: Oxford Risk in the UK and in Riskalyze in the United States. ● 41:17 – Paul Resnik is not a fan of Target Date Funds.● 42:57 – Technology Tools Today is a US company for financial advisor technology that puts out an annual survey. FinaMetrica has the highest user rating. 3 Key Points:1. Risk tolerance is a personality, and personalities tend not to change.2. FinaMetrica starts with a 25 or 12 question questionnaire to measure financial risk tolerance juxtaposed against ethical, physical, and social tolerances to determine an average score and range.3. The cost to implement FinaMetrica into their practice: $800-900 a year in various countries. Tweetable Quotes:- “We measure risk tolerance scientifically. We use a psychometric test…it took us four years to put together our 25 questions.” – Paul Resnik.- “Risk tolerance is a personality trait. Personality tends not to change.” – Paul Resnik.- “We are fighting for mind space. We are fighting for people to stop long enough and listen.” – Paul Resnik. Resources Mentioned:● Facebook – Jason Pereira’s Facebook● LinkedIn – Jason Pereira’s LinkedIn● FinaMetrica – Website for FinaMetrica● Paul Resnik – LinkedIn for Paul Resnik See acast.com/privacy for privacy and opt-out information.

Comparative reviews of risk tolerance tests in the UK and US show that FinaMetrica is a clear 'best-of-breed' choice, with a solid scientific base and more than one million client profiles completed.

Here is your FPPad Bits and Bytes update for August 8, 2017. FinaMetrica merges with PlanPlus FinaMetrica announced its merger with PlanPlus, a Toronto-based financial planning software provider. Founded in 1998, FinaMetrica is one of the first companies to gain significant traction for its risk tolerance assessment software, though the company has seen its market […]

miPlanPlus is an impressive new white-label robo advisor, whose risk tolerance assessments are powered by FinaMetrica. In this episode we look inside miPlanPlus with Shawn Brayman from PlanPlus, the creator of miPlanPlus, and our regular guest Paul Resnik, from FinaMetrica. (First broadcast November 2016).

A new guide to the language of risk has been released by FinaMetrica, to help the industry focus on how risk is described and put into context for customers. In this episode, the creators of the guide explain why and how they undertook this work. (First broadcast September 2016).

Clients are demanding much more from their financial advisors and wealth managers - and many will dump you if you don't meet their needs! A recent survey of global investors found that around 75% would happily take robo-advice, while another survey reports that as many as 65% of customers are ready to dump their advisor or manager if they don't get what they want. But Paul Resnik, from FinaMetrica, says you can make them stay by adapting to provide advice that recognises and takes into account the person's financial risk tolerance.

There is a growing trend in the United States of financial advice software being built by integration with 'best-of-breed' components from specialist providers. Paul Resnik explains how FinaMetrica delivers these integration solutions.

miPlan is an impressive new white-label robo advisor, whose risk tolerance assessments are powered by FinaMetrica. In this episode we look inside miPlan with Shawn Brayman from PlanPlus, the creator of miPlan, and our regular guest Paul Resnik, from FinaMetrica.

A new guide to the language of risk has been released by FinaMetrica, to help the industry focus on how risk is described and put into context for customers. In this episode, the creators of the guide explain why and how they undertook this work.

Over the past six years I have built up quite a body of work here on MeaningfulMoney. And that's especially true when it comes to how to invest. In today's show I am going to bring together some of the best investing resources on the site and try to fit them into a path to take you from zero to elite investment skills. Podcast: Subscribe in iTunes | Play in new window | Download Sponsor Message This podcast is brought to you with the help of Seven Investment Management, a firm of investment managers based in London. They specialise in multi-asset investing, bringing institutional investing techniques to ordinary people like you and me. 7IM put their name to my show and to my site because they believe in what I'm doing, trying to get decent, easy-to-understand financial information out to the world. I'm very grateful to them for their support. You can see what they're up to at 7im.co.uk How to invest With 303 videos and 149 podcasts here on MM it can be hard to find what you need, though there is a very efficient search system. I am in the process of designing and building a new home page which will hopefully help new visitors find their way round, but until that is done, this post should help you navigate the best stuff when it comes to investing. Of the resources listed, more are podcasts than videos. Many of the videos are somewhat out of date now, and while I am redoing some of them, the podcast is generally where the meat is. Ready? Here are eight steps to become and investing ninja: Step 1 - Get into the right mindset Video number 246 talks about getting into the savings mindset. You need to start form a good place, as the changes you will make need to be deep-seated to last for a lifetime. This involves being future focused, getting mad at the financial services industry, and committing to taking control of your own future. Step 2 - Get started For those who are right at the very start of their personal finance journey, and are looking to pay off debt and begin saving for an emergency fund, I have a dedicated index page just for you. If you have done those things, and you're looking at how to invest, what's next? Podcast session 6 was a chat with the erstwhile Justin Urquhart Stewart of my sponsors, Seven Investment Management. In that show we agreed that investing should be dull, above all. You should understand your risk tolerance (more in a minute) and understand what makes a core investment portfolio. Then in Podcast session 10 we looked at Asset classes, or things you can investing, and a little bit about how they interact. And we followed this up with Podcast session 11, where we covered the platforms, wrappers and funds that these assets are held inside. this is the basic architecture for investing success. Step 3 - Understand Risk It has been proven beyond doubt that risk and reward are related. Risk is a multi-layered subject, as I discussed with my friend Richard Allum in Podcast session 16. Much later, I chatted to Paul Resnik of risk measurement firm Finametrica in Podcast session 119, and looked into the science of risk tolerance, and whether or not it changes in response to external factors. Finally, video number 300 covers the three main ways in which investment risk can be managed by ordinary folks, such as you and me. Step 4 - Educate yourself We're better at most things if we learn something about them in advance of diving in. The same is true for investing, which is why this site exists, and why you're here. You need to learn how to invest, before you start to invest. Podcast session 76 was a chat with journalist Robin Powell who created a documentary called How To Win The Loser's Game. Listen to the show and watch the film; it'll set the scene. Then I embarked on a four-part investment masterclass covering: Asset Allocation Risk and return Setting realistic targets Understanding costs Those four podcast sessions will give you a superb grounding of education and equip you to make good choices. Step 5 - Get practical Armed with all that good information, it is time to get your hands dirty with some practical investing. Back in Podcast session 41, I took listeners through how to build a portfolio from scratch, exactly how I would do it. I then chatted subsequently with Mark Polson of platform consultancy the lang cat, in Podcast session 75. If you're going to go it alone and not seek professional advice, there are plenty of online systems to help you invest in various ways, and Mark's guide helps you decide which is best for you. Once a portfolio is built, it should be reviewed. In Podcast session 96 I cover what to do when you sit down each year to look at the year just gone and the one coming up. What should you be looking for? What should you ignore? Step 6 - Learn about behavioural finance We are so often our own worst enemies. While investing is a science, as humans we are driven by emotion, and as such we can make some very bad decisions. Half the battle with learning how to invest is understanding why we make mistakes and putting in place a framework to minimise these. Back in Podcast session 43 I covered nine classic investing mistakes that I see people make over and over again. Then, in one of my favourite conversations I have had for the podcast, I chatted to Greg Davies from Barclays Wealth over two shows, session 108 and session 109. Greg is the UK's foremost authority on behavioural finance and gives us some very practical tips on how to make good investing decisions. Finally, I make my own attempt to give some practical tips for making smart decisions in Podcast session 118. Step 7 - Get things in context As I often say here on MeaningfulMoney, money is never an end in itself, but a means to an end. It is there to serve your life goals, and to enable them, never to be a goal in itself. It is therefore vital to invest with this context in mind. In Podcast session 48 I asked some important questions, crafted by the father of financial life planning George Kinder. These three questions will help put money in its proper place. I then interviewed my good friend Tina Weeks in Podcast session 85, and she shared her approach for putting money into perspective. Step 8 - Take things to the next level Finally, for those plucky few who make it this far, there is the opportunity to level up, and take your investing to the next level. In Podcast session 81, I cover some advanced investing techniques, and in Podcast session 24, I talked about some lessons we can learn from how the super-rich manage their wealth. I chatted to financial guru Todd Tresidder in Podcast session 123, and asked the question: How much do I need to retire. Todd himself retired at 35 or something incredible, so he's a good man to learn from. And then in Podcast session 113, I covered ways to put your finances on autopilot, so you can grow your wealth while you sleep. Summary Phew! I think that is plenty for most people to be going along with. If you can apply the information about how to invest contained in these podcasts and videos, your financial success is pretty much assured.   Join the conversation I love to read and respond to your comments, so please do join in and share. Question: Which of these resources has benefitted you most, and why? Share the love If this show is of any use to you, it would help me massively if you would take the time to leave me a review on iTunes. This has a huge impact on keeping me near the top of the rankings, which in turns helps more people to find the show and to subscribe. Just click the button below:

All are welcome to attend a workshop in London on 17 November 2015 where Paul Resnik, from FinaMetrica, will present his unique insights into the future of financial services. To attend this event, which runs from 9am to 12.30pm, email karen.marr@finametrica.com

Paul Resnik, from FinaMetrica discusses the five ‘proofs’ of investment suitability for financial planners. Paul argues you must be able to prove these five things to claim you are giving suitable financial advice.

You think you know how risk tolerance assessment works? Well, let’s test that out! Paul Resnik is from Finametrica. It’s the world’s leading supplier of risk tolerance tools that are used to ensure suitable investments are recommended to clients. Paul has seen it all, read it all and heard it all when it comes to assessing risk tolerance. And today he’s going to bust open his top five myths.

In America, financial services is driven by profit and that makes the U.S. a very dynamic place. Most of evolutions and revolutions we see come out of this market. So it’s sometimes hard for US advisers to get their heads around the rest of the world, like Europe, where financial advice is largely driven by regulation. According to Paul Resnik that’s led to innovation being stifled. His business, FinaMetrica, supplies risk tolerance assessment tools to clients in Europe. But when he goes there he does not like what he sees. Paul thinks that financial advice in Europe pretty much sucks!

Nothing is bigger in financial services right now than Robo-Advisers – automated advice processes that get rid of humans completely. Depending on who you ask they are the future of profitability or the devil. So should we be excited? Afraid? Or a bit of both? Paul Resnik will help us decide! Paul is from Finametrica and he’s right in the middle of the rise of the robos. His business supplies risk tolerance tools to assist with the selection of suitable investments for financial planning clients.

What’s it like to be a financial adviser in Europe, compared to America? What role do regulators play in the way financial planning evolves in different markets? Financial Planning expert Paul Resnik travels the world speaking with financial advisers, investment managers and investment platform operators. His business, FinaMetrica, supplies all of those folks with risk tolerance tools that help them recommend suitable investments to their clients. Today, Paul takes us around the financial planning world in about 20 minutes.

Risk is such an essential component of investing success that I have covered it, in detail, twice before on this show. But today I chat to the godfather of risk measurement, Paul Resnik of Finametrica, and go deep into the science of investment risk.  

EON speak to Paul Resnik from Finametrica about risk profiling and its impact on volatility in your Self Managed Super Fund. Finametrica have completed over 770,000 individual risk profiles based on psychometric understanding of your risk tolerance. The outcome of this testing is an Asset Allocation you are comfortable with.The Asset Allocation of your fund is a key driver of both return and the amount of volatility in your returns. If you can achieve the right mix of the returns you need at an acceptable level of volatility, your enjoyment of life will be significantly enhanced.A great discussion with a leader of the industry.Compound your wisdom!