Riskalyze, an online risk profiling tool, has launched a free version for advisors. Using its proprietary Risk Fingerprint technology, Riskalyze quantifies risk tolerance and matches it to the appropriate model portfolio. The free version was announced on the company’s blog on January 16.

As a risk profiling tool for advisors, Riskalyze is new to the scene. The original product was meant for individual investors. “We realized that many investors were actually using it with their advisors to talk about their portfolios,” said Aaron Klein, chief executive officer of Riskalzye. In October 2012 his team launched the professional version specifically for investment advisors.

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