Financial organizations have been confronted with a growing problem for some time: developing financial literacy and helping people to understand and improve their financial health situation. Unfortunately, financial advisors are human too, and keeping track of all of their clients and potential clients can be difficult – much less the details of dozens, if not hundreds, of client cases.
SimplyCast presents the idea of the Financial Health Index use case, a complete solution designed to aid financial institutions with the development of financial health literacy and connect advisors with those in need.
The solution is intended to be used by financial health advisors, clients, and potential clients in order to foster financial health literacy and help lead new clients to the services they need.
The Financial Health Index Process
SimplyCast anticipated the need for financial services companies to have a straightforward, centrally-managed solution that can provide advisors with a wealth of information prior to the first appointment, while also connecting potential clients to the right advisor for their needs.
Within this digital process, financial advisors and inbound potential clients can share the load, or the survey can be conducted during the first meeting. The process is designed to be highly flexible and adaptable to the needs of any given advisor.
Advisors– Step 1
First, advisors need to build the quiz and subsequent messaging and decide how the assessment should modify the client profile in order to get a clear picture of their financial health. Setting this up in advance and testing your template will ensure that you know exactly what a client will experience and make sure the process is easy and intuitive.
Clients – Step 1
Once the quiz is published, the potential client fills it out on the advisor’s site and within minutes receives an email telling them what their overall financial health score is. They might also receive follow-up emails highlighting services they could make use of in problem areas of their financial health. All these communications will include the means to connect with an advisor.
Advisors – Step 2
Advisors can assess the quiz responses and use reports and feedback from clients to improve the process and leverage the responses to the quiz to gather information prior to the first meeting with the client. This allows advisors to provide quality meeting times to more clients, as they have the background information they need already and a better sense of what needs to be covered during the meeting.
Clients – Step 2
Once the client has the information they asked for and have been recommended services, they are easily able to book an appointment with an advisor to learn more about managing their financial health situation.
Why SimplyCast?
Financial health has been a difficult concept for many people around the world for years now. This process is just a taste of the potential for improving financial literacy that a digital solution can have for advisors.
The SimplyCast platform is a no-code platform that allows anyone to build and edit their solution. As a result, this financial health index solution is fully customizable and can be tweaked or altered to meet the exact needs of every financial institution.
SimplyCast is an ISO 27001:2013-certified company with data centers in the USA and Canada. We can assure you that your confidential data is safe on our secure server and the messages you transmit are completely encrypted. We have a 99.5 percent minimum uptime and 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.
Interested?
Don’t wait! Simply request a demo by clicking the button below and letting us show you how our solution can help you manage your Financial Health Index solution more efficiently. Our experts are ready to give you a one-on-one demo to explain how everything works.
