Risk-Aware Utility Re-Ranking for Financial Asset Recommendation

A financial recommender system couples two objectives: ranking for preference alignment so that users actually adopt the recommendations, and ranking for outcome quality so that adoption translates into value. These objectives can conflict: return-driven lists may narrow diversification and miss user tastes, while relevance-only lists deliver weak realized returns. To address these problems, we propose Risk-aware Utility re-RAnking (RURA), a plug-in method that operates on the upstream top candidates and optimizes a user-specific expected-utility objective. RURA injects investor risk tolerance into the utility, includes a likelihood-aware variant that integrates calibrated adoption probabilities, and uses a single hyperparameter to control diversification to preserve upstream order while trading minimal nDCG loss for ROI gains. Experiments on a real-world dataset demonstrate that RURA outperforms risk-aware baselines in ROI while keeping nDCG within the range of a strong risk-aware baseline and delivering higher expected utility across risk groups.