Pocket Risk

Pocket Risk is a focused risk-assessment service for financial advisors. It suits practices that want a branded questionnaire and a direct connection between client risk scores and investment models, while firms needing comprehensive financial planning should look elsewhere. Its strongest case is a short, structured risk conversation that produces usable reports.

Overview

The 15-question questionnaire addresses financial goals, financial circumstances, risk tolerance, and risk capacity. Clients can respond online or on paper, and online completion is designed to take five minutes. That concise format can improve consistency across client meetings, but it is still an assessment tool rather than a complete planning workflow.

Advisors receive online and PDF reports with visual profiles and graphs. Scores can be connected to model portfolios, with support for up to 11 portfolios. Goal planning and investment planning are included, while cash-flow modeling, tax planning, scenario analysis, and insurance planning are not. Pocket Risk therefore works best when risk profiling is the missing piece in an existing advisory process.

Key features

• Custom client experience: Firms can apply their branding, add questions and disclosures, and embed the questionnaire on their own website. This is valuable for advisors who want the assessment to match their compliance language and client journey; it matters less to a practice happy with a standard form.
• Reports for conversations: Online and PDF outputs, including visuals and graphs, give advisors material to review with clients instead of leaving results as raw answers. The reporting is useful for explaining a profile, but it does not replace broader projections or scenario work.
• Portfolio connection: Linking scores to as many as 11 model portfolios creates a clear path from stated risk to investment options. It is a practical handoff for portfolio-led firms, although the cap may be restrictive for larger or more segmented model libraries.
• CRM integration: Redtail CRM integration can reduce duplication for practices using that system. Advisors working in another CRM should not assume the same connection.
• Security and privacy: Data in transit uses 256-bit encryption over HTTPS, with AWS infrastructure and daily backups. Pocket Risk says it does not pass questionnaires or client information to third parties and does not sell or distribute client data.
• Regulatory scope and support: The service is designed to comply with regulations in the United States, United Kingdom, Canada, Australia, New Zealand, and India. Solo customers receive email support; Professional and Business customers receive telephone support during 8 a.m. to 5 p.m. Eastern, Monday through Friday.

Pricing

Pocket Risk is paid software with a 14-day free trial and no free plan. The pricing page displays each plan at no cost, billed per month and billed annually, with the annual plan showing 0. The published figures should be confirmed before committing, particularly for a yearly subscription.

• SOLO: 1 user, up to 80 clients, and email support. It is the natural starting point for a single advisor with a modest book, but the client ceiling and lack of telephone support make it a poor fit for a growing team.
• PROFESSIONAL: 3 users and up to 500 clients, plus custom branding, model portfolios, integrations, website embedding, added questions, team administration, and telephone support. This is the best match for a small advisory team that needs the full customization and portfolio workflow.
• BUSINESS: 10 users and unlimited clients, with the same branding, portfolio, integration, embedding, question, administration, and telephone-support features as Professional. It is aimed at firms whose client volume or team size would make Professional’s limits uncomfortable.

Monthly plans can be canceled at any time. Yearly-plan accounts can be canceled within 30 days of payment. The trial gives a short window to validate the questionnaire and reporting process before choosing a plan.

Platforms

Pocket Risk runs on the web and has Android and iOS support. Website embedding also lets an advisory firm place the questionnaire within its own online presence.

Who it's for

Choose Pocket Risk if you are a financial advisor who needs a repeatable risk-tolerance and risk-capacity assessment, branded client-facing materials, and a way to map results to model portfolios. Solo is suited to one advisor with up to 80 clients; Professional fits small teams serving up to 500 clients; Business is for teams of up to 10 users that need unlimited clients.

It is not the right primary system for advisors requiring cash-flow forecasts, tax planning, scenario analysis, insurance planning, or a broad financial-plan client portal.

Pros and cons

Pros

• Five-minute online completion and paper support make the questionnaire practical across different client preferences.
• Visual online and PDF reports support clear client discussions.
• Custom branding, disclosures, questions, and website embedding allow a firm-specific process.
• Scores can feed up to 11 model portfolios, linking assessment to investment choices.
• Privacy commitments, encrypted transmission, AWS hosting, and daily backups address core data-handling concerns.

Cons

• It lacks cash-flow, tax, scenario, and insurance planning, so comprehensive planners need additional software.
• Solo is limited to 80 clients and email support, while Professional is capped at 500 clients and three users.
• Redtail is the named CRM integration, which may not suit firms using another system.
• The portfolio connection supports up to 11 models, potentially constraining complex investment menus.

Alternatives

For a broader directory of planning products, browse Financial Planning Software.

• myprosperity is a better fit for firms wanting a freemium client-facing platform with Android, iOS, and web access.
• Betterment suits readers seeking a freemium digital investing service rather than an advisor-focused risk questionnaire.
• Boldin is preferable when a freemium planner with forecasting inputs, interactive explorers, charts, and AI questions is the priority.
• Elements is worth choosing for a freemium-to-paid workflow that starts with up to five clients and offers unlimited-client planning at its Core tier.
• FE CashCalc is an alternative for advisers seeking cash-flow calculation tools.
• ProjectionLab fits users who want freemium financial planning with forecasting, Monte Carlo simulations, historical backtesting, and flexible modeling.
• AstuteWheel is another paid web option for adviser and paraplanner workflows.
• Conquest may suit independent advisors and boutique firms looking for a paid, web-based planning platform with a trial pathway.

Verdict

Pocket Risk is a strong choice for advisors who want a concise, customizable risk assessment that produces client-ready reports and ties scores to model portfolios. Its clear limits in cash-flow and tax planning are the main reason to look elsewhere or pair it with a broader planning suite.