Courtiers develops 'Monte Carlo' risk tool

Wealth management firm Courtiers is to introduce a ‘Monte Carlo' risk profiling tool which allows clients to prioritise different types of risk.

The tool is named the 3D Investment Strategy Risk and Return Analysis, and should be available for advisers in three months’ time. It is based on the ‘Monte Carlo’ stochastic theory, which looks at probabilities rather than calculating volatility. The firm hopes the tool will allow advisers and their clients to tailor their outcome-focused solutions in more detail. Chief investment officer Gary Reynolds (pictured) said: “What you end up with are portfolios entirely geared to the specific goal you have set. "You no longer say to the client, ‘This is ISA 1, ISA 2.’ What you say is...