Clarity for a New Year

With the year almost in the rearview mirror, I wanted to share with you what you can expect from DataPoints in the new year. Our team is focused on providing our advisor clients tools to uncover client money mindset, personalize advice and guidance, and apply the psychology of financial planning.

Focus: Identifying Client Money Mindset

If you’re a small business owner like us, you know it is tempting to be all things to everyone. Likewise, you are probably also aware that to succeed in one area, you must say “no” to almost everything else. 

Financial psychology is a broad and burgeoning field. DataPoints’s role in this world is clear: we help advisors to uncover client money mindset. Advisors depend on us for insights into their clients’ personality, attitudes, risk tolerance, and beliefs.

DataPoints will continue refining and providing our core products, including:

  • A library of tests that advisors can use to understand their clients
  • Advisor reports that define what we measure, what it means, and how to use the information
  • Client-facing reports that explain what each test measures, the client’s scores, and what those scores mean for their financial journeys
  • Firm-level analytics on client personality to drive educational and coaching-related initiatives

To excel in measuring client characteristics and provide you with the most accurate and useful insights possible, we are staying focused. Therefore, we’ll continue to refer advisors to other experts and resources for the following:

If your company wants to partner with DataPoints, connect with us here.

DataPoints Certified Coaches Program

To use our tests effectively, we recognize that advisors need to learn from other advisors. To that end, we began a community program at DataPoints this year. In 2023, we look to partner with advisors and coaches who want to become certified in using DataPoints assessments to train and coach other advisors. Connect with us if you would like more information on that program.

New Packages & Plans for The Broad Financial Services Industry

Through conversations with our customers, former customers, and industry experts, we’ve shaped our pricing to fit the broad needs of those who depend on us: planners, coaches, therapists, counselors, and others in the financial and professional services fields. Below is a description of our subscription packages:

  1. Start: For advisors just getting started with assessments or who want the ability to test a few clients a month. This plan was created based on feedback from advisors who are starting out building their firms or want the ability to use assessments with a limited number of prospects or clients. The typical use case here is a firm that only uses the Financial Perspectives attitudes tests with new, mass affluent client couples.
  2. Grow: This package includes unlimited invitations (that is, invitations for clients to complete tests) for advisors that want to use one or more tests with all prospects and clients. The typical use case is a firm or advisor who uses two types of assessments with their clients. One example would be a firm that uses the Investor Profile RTQ and Klontz Money Scripts Inventory-Revised with each new client.
  3. Complete: This includes an additional user for growing firms and the inclusion of marketing quizzes to add to your website and social feeds. 

Learn more about our packages and plans here.

FinPsych Continuing Education & The CFP Board

In 2022, advisors earned CE credits through our CE sessions directly, through our conference presentations such as with XYPN or the FPA, or with our partner organizations like Wealthbox CRM and IncomeConductor. Our CFP CE credit sessions are focused primarily on educating advisors on client characteristics including money attitudes and investor personality.

In the past, we’ve offered CE sessions for free to all advisors. However, the CFP Board is changing the way CE Sponsors pay for these sessions (including adding a “per credit hour” fee). With that change, DataPoints will now offer the CE sessions free to our existing customers, and charge a small fee to advisors for our other sessions. Our sessions are listed here, and we’ll be opening registration periodically throughout the year.

Supporting Education Through Academic Accounts

The psychology of financial planning is a component of many financial planning programs. One of the key focus areas in this principle knowledge topic is identifying client money mindset: attitudes, values, beliefs, and other characteristics that can impact financial success. In 2022, we welcomed several new universities to the DataPoints family. If you teach in a financial planning or another related program, we invite you to request an academic account to use in your classes and with students. 

If you work with us, you’ll find that we’re clear on what we can and cannot do for your business and for your clients. If you’re not working with us, we invite you to try us out for two weeks for free.  And, we offer discounts through our partnerships.

We are privileged to work with advisors worldwide this year to help them better understand their clients. Thank you for trusting DataPoints to help you uncover client money mindset.

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