Patent ID: 8452685

Claim:
A computer implemented method of limiting an investment custodian's, an investment advisor's or other service provider's fiduciary risk comprising: administering a psychometric test to an individual via a display and input device to determine understanding of potential risks and rewards of pursuing a course of action involving use of a financial product or service or following advice as given by a service provider; scoring the psychometric test to obtain a test score; mapping the test score to various possible options based upon the individual's level of measured knowledge and/or capabilities demonstrated by the test; allowing intervention or action as a result of the psychometric test score; limiting investment custodian, investment advisor or other service provider fiduciary liability by displaying and allowing the individual to select a course of action involving use of a financial product or service or follow advice as given by a service provider within those alternatives determined to be acceptable or defaulting the individual into a certain course of action or alternative; and executing via the computer, business transactions to make selections of alternatives or courses of action, or following of advice consistent with those options permissible based upon said test score and said individual selection.