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In a survey of more than 470 advisers, two-thirds said they were expecting to greatly increase their use of online risk tools while 27 per cent said they expected their use to remain the same.

Overall, 93 per cent of advisers confirmed they were already using this form of technology.

The Skandia research also suggested the main reason for this increase in uptake was it enabled IFAs to better match asset allocation and risk appetite.

Some 78 per cent of respondents claimed this was the most important factor when constructing a portfolio, rather than focusing on fund selection, Skandia said.

As a result, the firm claimed "the majority of advisers want to engage with technology to enhance the quality of the service they offer to a client".

The vast majority of advisers were also more interested in not losing clients' money, rather than how much might be made, with 76 per cent of IFAs responding that their clients were more concerned with potential downsides.

Graham Bentley, head of investment marketing at Skandia, said: "With advisers intent on ensuring the recommendations they make match the risk appetite of their client, they are going to need to ensure the client’s risk profile remains in line with their portfolio throughout the duration of the investment.

"Online tools can help an adviser with this review process, but for those wanting to effectively outsource this task a risk-rated fund can offer a good solution."