The risk profile should relate the client’s investment and risk universe to that of the asset or wealth manager. Even if a wealth manager follows an aggressive investment style, invests in smaller companies, emerging markets and has big global allocation, a risk profile would allow a conservative investor to be allocated a more conservative portfolio with more defensive larger companies and a higher domestic allocation.
Now the ability of an asset management company to adjust their portfolio structure to suit your risk preferences depends very much on their investment style and their investment planning disciplines. Investment planning disciplines are the rules that define the relationships between the manager's investment style and strategy to the varying risk preferences and financial needs of the investor. Investment planning disciplines are discussed in greater depth in the technical documents in the Technical section of this website.
Companies which have a narrow allocation focus and limited investment planning disciplines can only deal with investors where the client risk profile is a close match to their own investment style and where the client's financial needs over time is relatively simple. Because a risk profile integrates the investor’s and the organisation’s risk return universe into the one risk/return management process, both advisor and client know where each other is coming from and portfolios can be run consistently with both risk preferences and financial needs in mind. Advisors using standard industry portfolio construction software may not have the ability to adjust the structure of your portfolio to suit your risk preferences. It is very much in the individual's interest to have a portfolio which matches their needs, risk aversions and performance risk preferences. | 
