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DNA Behavior Wins FinTech Breakthrough Award for Best Risk Management Service

“DNA Behavior is recognized for its Risk Management assessment as part of the Financial DNA platform. The goal of the FinTech Breakthrough Awards is to honor excellence and success of FinTech companies, technologies, and products. FinTech Breakthrough Winners are determined by a panel of impartial senior-level judges.”

“DNA Behavior is honored to add the FinTech Breakthrough Award to the growing list of distinctions.” – Hugh Massie, CEO

(1888PressRelease) April 25, 2017 – DNA Behavior is pleased to announce that they have won the FinTech Breakthrough Award in the category of “Best Risk Management Service.” The competition was extremely fierce, with over 3,000 nominations received across different categories. DNA Behavior finds itself among other notable winners including Discover Bank, NerdWallet, Zillow, Square, Braintree, Bizfi, Xero and an impressive list of top companies and startups in the FinTech industry.

The goal of the FinTech Breakthrough Awards is to honor excellence and recognize the creativity, hard work, and success of FinTech companies, technologies, and products. FinTech Breakthrough Winners are determined by a panel of impartial senior-level judges, which include analysts, journalists, and technology executives.

Amongst other notable Risk Management Service providers, DNA Behavior differentiates itself from the crowd by offering the complete behavioral assessment of both the advisor and the client as well as their behavioral biases and goals-based planning preferences.

The company’s global offices mean support is available by phone or email through extended office hours. Additionally, the company’s flagship client tracking dashboard, Market Mood, remains a favorite among Financial Advisors, thanks to its real-time assessment of individual client reaction to market fluctuations partnered with customized scripts for engaging them in their preferred style.

“DNA Behavior is honored to add the FinTech Breakthrough Award to the growing list of distinctions. The company continues to improve its platforms and services based on feedback from customers and market opportunity.” – Hugh Massie, CEO
To learn more about DNA Behavior, visit https://www.dnabehavior.com/.

DNA Behavior, founded in 2001, delivers practical and scalable behavioral intelligence solutions to “Know, Engage and Grow” every employee and client online in over 123 countries through 11 languages and has 12 proprietary DNA Behavior Discovery Processes under 3 primary brands: Communication DNA, Business DNA, and Financial DNA.

To learn more, please speak with one of our DNA Behavior Specialists (LiveChat), email inquiries@dnabehavior.com, or visit DNA Behavior.

The Ultimate Cheat Sheet On FINRA Firm Culture

The Ultimate Cheat Sheet On FINRA Firm Culture

It has been more than seven years since the financial crisis, yet some firms continue to have significant violations due to poor cultures of compliance, FINRA Chairman and Chief Executive Richard Ketchum said in a statement. This year,

FINRA will be looking for firms to focus on their culture and whether it is putting customers first and promoting risk management adaptable to a changing business environment, Mr. Ketchum said.

Recognizing that all of us have behavioral biases that are unique; building a firm culture can be one of the most important goals of the Financial Advisory Firm. Using People analytics to develop a client-centered solution breeds a culture of increased AUM without sacrificing integrity and authenticity of the firm goals.

This latest move comes after the Wall Street regulator listed firm culture as a 2016 examination priority. FINRA has defined culture as firm norms-those practices and behaviors within the workplace that have a “profound influence” on how firms run their business and manage conflicts.

FINRA is asking firms to provide information around eight general areas, including the polices in place that establish firm culture, how those core values are communicated and in what ways the firm measures and assesses the impact of those standards.

Does your firm have the culture to support FINRA’s top priority? Use these suggestions to develop your own “Cheat Sheet” to ensure you are proactive in meeting these objectives.

1. Use a validated Risk Profile Solution that assists the Advisor in identifying the best-suited investments that match the client’s natural risk tolerance and return requirements, thereby, reducing complaints later on when the client’s natural behavior surfaces and he/she reacts negatively.

2. Create a platform with transparency into those Risk Profile and Behavioral Bias factors for both the Advisor and the Client. This will provide documentation of an environment that is focused the true Client needs, as well as, how the Advisor might be biased differently than the Client. Identifying mismatches and performing periodic reviews of transactions based upon this information will ensure accountability for the Advisor not to place the client in a non-suited investment.

3. Develop a behavioral bias learning environment so that the Advisors understand how hard-wired behavior is a major factor in how the client will react to different investments and market volatility. This can be done by using a behavioral bias discovery process and engaging the client in the process to help manage their emotions and expectations.

Read More on what other leaders are doing to develop their firm culture.

Learn more about People Insights and how they can impact your Firm Culture.