Does Financial DNA help advisors address the DOL’s fiduciary ruling?
Yes. The DOL definition of a fiduciary demands that advisors act in the best interests of their clients, and to put their clients' interests above their own.
- The Financial DNA Discovery Process is the next generation of behavioral discovery capturing all dimensions of a client’s financial personality by utilizing the most academically sound psychometric systems.
- We strongly advocate this approach because it provides a more accurate measurement of who the client is and therefore the best starting point for any discussions about important life and financial decisions, and longer term education and development.
- The Financial DNA reporting system provides insights on how best to communicate, framing relevant information on the client's terms.
- These insights increase the client's chances of understanding the advice or recommendations and can reduce the impact of behavioral biases triggering irrational decision-making by both the client and the advisor.