Sherman Hanna is a professor of consumer sciences at Ohio State University. He is also the co-author of a new measure that he says is a better way to calculate how much risk people are willing to take in their investments. It has an interesting twist.

According to Hanna, financial planners are in agreement that measuring risk tolerance in their clients is highly important; however, he contends that there has been, up to now, no generally accepted way to do it: "A lot of the measures that are used are based on intuition and are not backed by solid research."

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