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When Ashley Quamme and I set out to start Trove, we felt something was missing in the industry. Specifically, we felt like advisors were missing a community that focused on practical advice and guidance on the behavioral side of financial planning. To address this, we wanted to create a space where advisors could receive specific, actionable feedback on client scenarios and ways to incorporate behavioral assessments to address challenging client situations. Most importantly, we wanted to facilitate a community that learns …
Earlier this month (September 2023) the team at Kitces.com released its 2023 financial advisor technology usage report titled Kitces Report: The Technology That Independent Financial Advisors Actually Use (And Like). (Download the Report here.) The Kitces Report provides a detailed analysis of data compiled from roughly 1,400 independent financial advisors’ responses regarding the technology applications they use (and don’t use) in their practice. Advisors rated their perceptions of value and satisfaction for the various …
Financial planners and coaches use the KMSI-R (Klontz Money Scripts Inventory-Revised) test to assess client money beliefs. Why? There is a continued and increased focus on financial psychology in the financial services world. The CFP Board has recently updated its knowledge topics to include the psychology of financial planning, covering everything from client attitudes to critical life experiences that could shape a financial plan. Financial planners recognize that money personality is a key component impacting …
When working to help clients achieve financial success, having insights into their financial psychology is crucial. We’re delighted to share that you can now have behavioral insights from DataPoints integrated into Wealthbox CRM. The integration works by: Sending leads and contacts to Wealthbox CRM from DataPoints Sending test scores from any test from the DataPoints library into a Wealthbox CRM note Sending notes taken on the advisor reports from DataPoints into a Wealthbox CRM …
As the full impact of COVID-19 continues to unveil itself in the financial services industry, many advisors we are hearing from have begun to plan for a long-term remote practice. If you are contemplating a similar shift for the future, it is important to understand the limitations of the methods you used in the past to get to know prospects. Two of these methods, (a) judgment based on direct interaction and (b) forms with …