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Why was the Financial DNA Discovery Process Developed?

Last Updated: Jan 19, 2017 05:36PM EST
Financial DNA was developed to help advisors “know, engage and grow” every client for building enhanced relationships and unlocking potential.

What many people do not realize is the significant influence human behavior has on the financial planning process. Independent research shows that 93.6%[1] of the financial planning process is the behavioral management of the client. To learn more, please click here.
  • A key first objective was to provide the advisors with greater self-awareness so that they could behaviorally manage their clients through different life and market events.
  • Our view is that Financial DNA is necessary to help the advisors build a client centered business and provide more suitable recommendations. In essence, Financial DNA is a relationship based compliance system.
  • The source of greatest wealth creation for most people is the productive use of their talents and how they manage their emotional reactions so that wise decisions are made. Financial DNA provides the insights to help people live a Quality Life from the inside out, based on their financial personality. One of the primary barriers for many people is their relationship to money: for some they deal with the stress of having too much or inheritance, and for others they do not have enough money.
  • We did not believe the traditional risk profiling tools and personality based systems were adequate to achieve these objectives. Importantly, we recognized that in order to serve clients properly there needed to be greater understanding of their communication style and inherent decision making biases.
[1] (Meir Statman, University of Santa Clara, California “The 93.6% Question of Financial Advisors,” Journal of Investing, Spring 2000).

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