How to Choose a Complex vs. Simple Risk Tolerance Questionnaire

We are big fans of advisors using a risk tolerance questionnaire. However, there are so many to choose from so how do you decide WHICH questionnaire to use?

We did a Google search for more simple questionnaires and choose the top 5 widely used risk questionnaires. We compiled the questions into one master list document. The 5 sources are:

  • Vanguard
  • Rutgers
  • Schwab
  • Morningstar
  • Yahoo
  • While we are not recommending you create your own questionnaire, you should be asking yourself – do you want your prospective clients to fill out the questionnaire with or without your help? The more complex the questions, the more help the prospective client will need to complete the questionnaire. There is also a greater chance that they won’t fill out your questionnaire. So as you review risk questionnaire software, consider the level of simplicity and how much effort will be needed to obtain the answers from the prospective client.

    Click HERE to download the compilation of 5 questionnaires.

    As always, we are here to help if you are unable to navigate this decision or any tech integration decision.

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