Many people are unfamiliar with the concept of financial health and how it can impact their wellbeing. While many financial institutions want to educate their clients on the subject, it can be time consuming, challenging to schedule, and the institutions don’t always have the right tools available for a client’s needs. Financial advisors often have a high volume of clients they see regularly and taking the time to schedule each one in for a session just isn’t attainable in many cases. Giving clients the resources they need to understand the significant role financial health plays in our lives, as well as a financial health score allows them to start a conversation with their advisor.
SimplyCast presents the Financial Health Index use case, a digital solution designed to assess client's financial health and give them feedback, before connecting them with an advisor for further discussion. By taking the short quiz, clients can gain a better understanding of their own financial situation and optimize their future discussions with advisors.
Benefits of a Digital Solution
The automated solution offers clients a chance to learn more about their own financial health and carry that information through to their advising appointments. This is done by introducing the concept of a Financial Health Index to clients. This is a way to measure financial flexibility, and the ability to navigate different challenges or unexpected opportunities. It only takes eight questions, each helping to assess a different part of the client's financial situation. Here are a few key examples of how this process can help you better understand your financial health.
Maximize Conversations with Advisors
This use case introduces a quick and easy 8 question quiz that allows clients to learn about the details of their financial health. Once they have received their score, they will also be given a conversation guide to help optimize future discussions with their advisors. Having the right understanding of their own situation, along with questions prepared helps clients engage in a thorough conversation with their financial advisor and better plan for the future.
Quickly Arrange Meetings
It is common for schedules to get full quickly and for there to be miscommunications around appointment dates. This makes it difficult for employees who are trying to manage several different clients every day. This solution ensures clients are connected to the right advisor for their specific needs, along with providing advisors with key information on their clients prior to the appointment. This helps avoid unnecessary appointments being required for questions that may not be essential, or weren’t remembered due to a rushed appointment booking.
Keeps Track of Client Data
This system stores and manages all client data and creates a profile for each individual. They can be connected to advisors using this data, without the advisor needing to reach out or determine if the client needs their specific services. The quiz asks them all the important questions and uses their responses to provide a score. After they receive their score, a conversation guide will automatically be sent, along with a link to schedule an advising session. This is all handled automatically, no human intervention is required.
That’s the sum of how the Financial Health Index use case can help financial advisors and clients reach their goals and stay educated.
The SimplyCast platform is a no-code platform that allows anyone to build and edit their solution. As a result, this solution is fully customizable, it can be tweaked or altered to meet the exact needs of every institution.
Don’t worry about scalability and security! SimplyCast is an ISO 27001:2013-certified company with data centers in the USA and Canada. This means we can assure you that your confidential data is safe on our secure server and the messages you transmit are completely encrypted. Our platform has the capacity to send 100,000+ messages every hour and allows 10,000+ concurrent sessions. We can also acquire additional gateways and servers if you need them.
Most importantly, we have a 99.5% minimum uptime. With our solution, you can have peace of mind.
Don’t wait! Our experts are ready to give you a one-on-one demo to explain how this solution works.
Simply request a demo by clicking the button below and let us show you how our solution can help you take control of your finances and learn more about financial health.