The Potential for Building Wealth

Last updated on February 15th, 2016 at 05:49 pm

A start to building wealth
Wealth potential?

A data point is a measurement or set of measurements of a single member of a particular population. For the financial services industry, client data typically include age, income, net worth, investable assets, risk tolerance, attitudes, and perhaps big data (with or without theory). This information is traditionally used to describe wealth groups (e.g., mass affluent, ultra high net worth) and determine relevant products and services.

What’s missing? The scientific measurement of relevant wealth-building behaviors and life experiences that have been proven to predict net worth; an analysis of wealth groups that focuses on prediction of future success in addition to describing concerns and attitudes; and data that can identify wealth building potential of clients while also providing scientific recommendations for improvement in individual financial management.

Data Points’ predictive analytics identify the wealth building potential of clients. Measuring life experiences and behaviors that relate to building wealth, Data Points provides scientifically-based, actionable recommendations for institutions and individuals. Our products and services are based on nearly 40 years of research from the Affluent Market Institute, founded by Dr. Thomas J. Stanley, and the source of data in the New York Times bestselling books, The Millionaire Next Door and The Millionaire Mind.

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8 thoughts on “The Potential for Building Wealth”

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    1. For firms and advisors, an example of would be how to broaden their target market based on wealth potential. For clients/individuals, recommendations are based on their score on each wealth factor. So, if the client scores low on Social Indifference (which is related to net worth), then she is presented with a series of recommendations to help improve in this area. An example recommendation includes: delaying the purchase of items that you recently learned about from others.

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