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With the Power of Personality, Make Clients Goals a Reality

With the power of personality, make clients goals a reality

 

The greatest challenge to families setting goals is their behavior. Naturally, each member will have their own views, but only the most outspoken and take-charge individuals will command the stage. And managing these discussions while building group consensus is a skill that only the best-equipped advisors can navigate.

We were recently approached by a wealth management firm to develop a goals-based discovery process to address the gap in building group consensus amongst multiple individuals. Their objective was to help advisors of any skill level to objectively identify the goals of clients while having them participate in the goal-setting process. The DNA Product team and I supercharged this feature request. We’ve now added the power of personality to make the client’s goals a reality.

Introducing the Financial DNA Goals Discovery.

About the process:

The Financial DNA Goals Discovery is a step-by-step approach to help clients review and set goals based on their personality traits, risk profile and behavioral biases. This process allows clients to participate in the financial planning process by independently identifying their own goals, and then set them by evaluating the time-horizon. The process covers all areas of client’s life, from health to wealth, to provide a balanced analysis of all important life goals.

Client Experience:

The Goals Discovery is a web-based tool that can be added to your website or sent via email to the client. To ensure everyone’s goals and views are heard, it is imperative that each person completes the process (yes, even in the case of couples/families…). Clients spend approximately 10-minutes on an experiential review of possible goals in 6 categories. Next, each goal is designated as either a Need or “Want,” and then either “Short-Term” or “Long-Term.”

Goal Categories:

  1. Career & Business
  2. Relationships
  3. Health
  4. Recreation
  5. Community
  6. Financial

Using this tool inside your firm:

The objective of this tool is to increase the suitability of advice firm-wide, elevate discussions with clients, and to ensure that each family member is heard. The outcome of this discovery process are powerful insights for both the individual client and their family as a whole and to be a value-added engagement tool for your firm.

This feature goes live April 7th, 2017. Schedule a demo to preview it!

Ryan Scott

Ryan Scott

Ryan Scott - CTO, Prod Dev & Integrations

As the CTO, Prod Dev & Integrations, Ryan designs, develops, and maintains all of the web-based DNA Behavior products and solutions in addition to providing support for clients.

He has a passion for creating and implementing efficient business processes and leveraging technology throughout our business.

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