Enabling Risk Profiles

Overview

The Risk Profiles feature enables your firm to administer risk tolerance questionnaires and generate Risk Bands that categorize each client’s investment risk tolerance. A Risk Band is a categorization of investment risk levels that helps investors understand their risk tolerance and make informed decisions about asset allocation. The ranges used are Conservative, Moderately Conservative, Balanced, Growth, and High Growth. Your organization can save multiple Risk Profiles to a client’s Household, Organization, or Individual record, creating a historical view of how their risk tolerance evolves.

Practifi comes pre-loaded with standard Risk Profile questions that your firm can modify or supplement with custom questions to match your firm’s preferred terminology and approach. When you make changes to your questionnaire, the system maintains version control by requiring you to create a new question set, ensuring you can track which questionnaire version was used for each client assessment.

This article explains how to enable Risk Profile functionality in your Practifi organization by activating the feature in the Settings app and assigning the appropriate permissions to users and permission set groups. To learn more about working with this feature, see Understanding and Managing Risk Profiles.

• Enabling the Risk Profile Feature
• Assigning Permissions
• Next Steps After Enabling

Enabling the Risk Profile Feature

To enable the Risk Profile feature in your organization:

1. Navigate to the Settings app.

   

2. Select Additional Features from the navigation menu.

   

3. Locate the Risk Profile card.

4. Click the Add to Users & Groups button.

   

The Add to Users & Groups window displays two permission set options:

Risk Profile Feature allows users to create, edit, and delete Risk Profiles on client records. This permission set grants read-only access to Risk Profile configurations in the Settings app, enabling users to view questionnaire content without modifying it.

Risk Profile - Administrator provides complete access to all Risk Profile settings, including the ability to modify Question Sets, Questions, Answers, and Risk Bands. This administrative permission set should be granted only to users who will configure and maintain your firm’s Risk Profile questionnaires.

Assigning Permissions

To grant access to users or permission set groups:

1. Under the Risk Profile Feature heading, click to highlight the permission set groups or individual users you want to grant access to.
2. Click the right arrow to move them to the Selected box.
3. Repeat this process under the Risk Profile - Administrator heading if you need to grant administrative access.
4. Click Save.

Most firms grant the Risk Profile Feature permission to all advisors and client service team members who work with clients, while limiting the Risk Profile - Administrator permission to system administrators who manage questionnaire content and Risk Band configurations.

Next Steps After Enabling

Once you have enabled the Risk Profile feature and assigned permissions, you can:

• Review and customize the pre-loaded standard Risk Profile questions in the Settings app
• Create new question sets if you need to modify the questionnaire content
• Configure Risk Bands to align with your firm’s investment strategy categories
• Train your team in accessing Risk Profiles from client records using the Risk Profile button in the record side panel

If you need to remove access from users or permission set groups in the future, return to the Additional Features menu and click the Add Users & Groups button to modify permissions.