Pocket Risk

Pocket Risk is a client risk-assessment service for financial advisors. It is best suited to practices that want a short, configurable questionnaire and a way to connect client profiles with model portfolios; it is not a comprehensive planning platform.

Overview

The 15-question assessment covers financial goals, financial circumstances, risk tolerance, and risk capacity. Clients can complete it online or on paper, and the online version takes five minutes. That makes it a focused way to structure a risk conversation, though advisors needing a broader financial picture will need other planning tools.

Advisors can generate online and PDF reports with visual profiles and graphs, then link scores to model portfolios. The portfolio page supports up to 11 portfolios, giving a practice a defined path from risk assessment to investment discussion. Pocket Risk also supports goal and investment planning, but not cash-flow modeling, tax planning, scenario analysis, or insurance planning.

Key features

• Questionnaire customization: Custom branding, added questions and disclosures, and website embedding let firms adapt the assessment to their client process. This is valuable for practices that want a branded experience; advisors content with a standard questionnaire may not need the extra controls.
• Reports and portfolios: Visual reports in online and PDF formats give advisors material to review with clients. Connecting scores to as many as 11 model portfolios can support the next investment conversation, but it does not turn the product into a full planning workflow.
• CRM connection: Pocket Risk integrates with Redtail CRM. That is useful for Redtail users who want a connection to an existing client-management system; the stated integration is limited to that CRM.
• Security and data handling: Pocket Risk says data in transit is protected with 256-bit encryption over HTTPS, with AWS infrastructure and daily backups. It also says it does not pass questionnaires or client information to third parties or sell or distribute client data. Those are relevant assurances for handling sensitive client responses.
• Regulatory design: The service says it is designed to comply with regulations in the United States, United Kingdom, Canada, Australia, New Zealand, and India. Firms should still consider their own compliance requirements when adopting a questionnaire.

Pricing

Pocket Risk is paid software with a 14-day free trial and no free plan. The displayed annual-plan prices for all three tiers are free, billed per month and billed annually. Those figures do not establish a usable paid cost, so the tiers cannot be compared on price; confirm the applicable custom pricing before committing.

Plan	Included	Best fit
Solo	1 user, up to 80 clients, email support.	A single-advisor practice with a modest client roster. The 80-client cap and email-only support make it a poor fit for a growing team or firms needing phone help.
Professional	3 users, up to 500 clients, custom branding, model portfolios, integrations, website embedding, added questions, team admin controls, and telephone support.	A small team that needs the branded and portfolio features plus phone support. Its client ceiling makes it less suitable for larger practices.
Business	10 users, unlimited clients, custom branding, model portfolios, integrations, website embedding, added questions, team admin controls, and telephone support.	A larger practice that needs more seats and no stated client cap. It raises the user allowance to 10 and removes Professional's 500-client limit.

Monthly plans can be canceled at any time; yearly-plan accounts can be canceled within 30 days of payment. Standard support hours are 8 a.m. to 5 p.m. Eastern, Monday through Friday. Solo includes email support, while Professional and Business include telephone support.

Platforms

Pocket Risk is available on Android, iOS, and the web. The combination suits advisors and clients using different device types, while paper completion remains an option for clients who prefer it.

Who it's for

Pocket Risk is a good match for independent advisors and small-to-midsize firms that want a structured client risk assessment, branded questionnaires, visual reports, and links to model portfolios. The Solo client limit works for a one-advisor practice; Professional adds team capacity and phone support, while Business is the fit for firms that need up to 10 users and unlimited clients.

Look elsewhere if your primary need is cash-flow, tax, scenario, or insurance planning. Pocket Risk handles a specific part of the advisor-client process rather than the full financial plan.

Pros and cons

• Pro: A five-minute online, 15-question assessment covers both risk tolerance and capacity, giving advisors a concise structure for client discussions.
• Pro: Online and PDF visual reports, customization, and up to 11 model portfolios connect assessment results to a follow-up investment conversation.
• Pro: The three tiers distinguish a solo user with a capped roster from teams needing more seats or unlimited clients.
• Con: The product lacks cash-flow modeling, tax planning, scenario analysis, and insurance planning, limiting its usefulness as a standalone planning tool.
• Con: Solo is capped at 80 clients and provides email support only; firms needing more room or telephone support must move to a higher tier.
• Con: The displayed free figures do not provide a meaningful paid-plan comparison, so buyers should confirm the actual cost before selecting a tier.

Alternatives

For advisors comparing broader tools, start with the Financial Planning Software category. The linked alternatives cover different needs:

• myprosperity is worth considering if a free plan and client subscriptions with one-time bank and credit-card sync matter more than Pocket Risk's dedicated risk questionnaire.
• Betterment has a free plan and Digital and Premium tiers with balance or deposit eligibility conditions; choose it when those terms fit your needs better than an advisor-focused questionnaire.
• FE CashCalc is a paid alternative with an individual adviser licence at 80.00 GBP, suited to readers comparing adviser-licence pricing rather than Pocket Risk's risk-assessment tiers.
• AstuteWheel is another paid option, with an ADVISE — Paraplanner plan at A$25 a month per user plus GST; consider it when that listed per-user plan is a closer fit.
• Boldin offers a free Basic plan with 100+ inputs, interactive explorers, charts, and limited daily AI questions. It is a stronger starting point for readers looking for free planning tools rather than a dedicated advisor risk questionnaire.
• Elements has a free plan for 0–5 clients and a Core plan at $149 a month for unlimited clients; consider it when those client tiers and planning-and-monitoring workflow are more relevant.
• ProjectionLab offers a free Basic plan with forecasting, financial planning, Monte Carlo simulations, historical backtesting, and flexible modeling. Choose it when those modeling capabilities are the priority.
• LivePlan is another option.

Verdict

Choose Pocket Risk if you are an advisor who needs a focused, customizable client risk questionnaire with visual reporting and a direct link to model portfolios. Its short assessment and tiered client and seat limits make its intended role clear. Look elsewhere if you need broader financial planning, or confirm the actual paid price before relying on the displayed annual-plan figures.