Five Questions With: Jonathan Sweet

Jonathan Sweet is a financial adviser with Oak Leaf Wealth Management and Retirement Planning. He offers securities and advisory services through Commonwealth Financial Network and recently launched a new business tool to help customers assess risk tolerance in their portfolios. He talks with Providence Business News about this new tool and why it’s useful for his clients.
PBN: Please tell our readers a little bit about your new business tool: Riskalyze.
SWEET:
Riskalyze is an innovative software program that uses quantitative information to identify a client’s risk tolerance in regards to their portfolio. After completing a quick survey, our clients receive a “risk number,” (a value between 0-100, 100 being the most aggressive) which helps us evaluate their current portfolio or construct a more appropriate portfolio that reflects the amount of risk they are comfortable with. The tool is important because it tests the client’s comfort level with various real-life market scenarios and helps capture a better understanding of the client’s true risk level. The tool meets client expectations for risk with approximately 95 percent accuracy.
PBN: What was the impetus for offering it to your clients?
SWEET:
I’m always looking for new ways to help clients understand the investment playing field and I felt that Riskalyze communicated information in a unique and novel way. In my line of work, establishing client trust is key. The way I build trust is to educate the client. It’s important to explain how their investments can perform once you take into account their long-term goals and their sensitivity to loss. Riskalyze helps me express the balance between risk and reward better than any other tool in my arsenal.
PBN: What type of response are you getting so far?
SWEET:
Extremely positive. We sometimes find that a client’s portfolio is out of line with the amount of risk they are comfortable taking. Using this tool puts the control back in the hands of the client.
PBN: How would you describe your clients’ overall response to the recent volatility in the financial markets?
SWEET:
My clients are no different than anyone else’s clients in the sense that a market downturn is never “fun.” With that being said, I hold regular meetings to update clients’ financial plans and help them keep their eye on long-term goals. This gives our clients peace of mind that we’ve prepared for situations like this. In fact, we expect them.
PBN: What do you advise for those readying for retirement?
SWEET:
My advice would be to sit down with an adviser and create a comprehensive financial plan, also known as a retirement-income analysis. This plan should incorporate your income, retirement savings, investments and Social Security benefits. The goal is to understand your bigger financial picture, no matter what that picture looks like, so you can take control of your retirement years.

No posts to display