What is Personality?
personality – n. the enduring configuration of characteristics and behavior that comprises an individual’s unique adjustment to life, including major traits, interests, drives, values, self-concept, abilities, and emotional patterns.
Personality is generally viewed as a complex, dynamic integration or totality shaped by many forces, including hereditary and constitutional tendencies; physical maturation; early training; identification with significant individuals and groups; culturally conditioned values and roles; and critical experiences and relationships. Various theories explain the structure and development of personality in different ways, but all agree that personality helps determine behavior.
(from the American Psychological Association)
A Money Personality Test To Personalize Advice
The Money Personality test was designed to help you uncover your client’s personalities and provide a detailed report on what their results mean for financial decisions and their future. How? By measuring stable personality characteristics that do not shift based on the current state of the markets or personal experiences.
You can use the results to anticipate what your clients might do in the future and guide them accordingly.
We’ve released the beta version as an Engage or marketing test, one that you can use on your website, in your email newsletters, or via social media to engage with your audience in a unique way. Here’s how advisors are using the test today:
- As a clear call-to-action on your firm’s homepage
- Embedded as a call-to-action within a blog or article about money personality, financial psychology, or behavioral finance
- Sent via newsletter invitation
The test will provide back a client-facing report while it’s in beta. During the beta period, the DataPoints team will be gathering feedback from those who are taking the test on our site (you can see it and take it yourself here). We request feedback from anyone who has taken the test as part of our test development process. Here’s some feedback from individuals on what they enjoyed about the test and report:
Investor Feedback That Speaks for Itself
“It was very thorough and detailed. Gave me an opportunity to self-reflect and analyze my financial decision making.”
“The addition of how personality can affect financial decisions. This comment ‘you may struggle to spend any savings you have amassed during your accumulation years’ was funny to me. I retired a year ago and am trying to live on our fixed income and not touch our retirement at all! I think I want to save till I die!”
“I loved that it was so uncannily true of who I am. It also helped me see my strong areas and areas I should watch out for.”
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Add the Money Personality test on your website or in your email newsletter to engage with prospective clients. Get started with a free, two-week trial.