The article highlighted Covisum's SmartRisk software. With the advances in technology in the financial industry, advisors need to prove their value to clients. SmartRisk allows advisors to use "fat-tail" modeling to make risk-adjusted decisions with their clients.
"The most important statistic is the SmartRisk number; we want to assess how much risk we are taking in pursuing our active portfolio choices."
The article outlines how SmartRisk gives a far more accurate picture of the the the potential monthly losses a client may face than the more commonly used Gaussian model.
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