Financial Planning..it's all about client engagement

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In the next years the relationship between consumers and financial planners will change. Technological and social innovations are the main drivers for those changes and will have a high impact on the financial planning profession. This is Figlo’s vision on the changing financial industry, animated with current financial planning solutions and a glimpse of future product developments. Presentation held at T3 Conference in Dallas, Texas, USA, 16 February 2012

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Financial Planning..it's all about client engagement

  1. 1. Financial Planning...
  2. 2. It’s all about client engagement? Jenze Bosma President, Figlo
  3. 3. Current financial news
  4. 4. How is financial news communicated?And the financial industry responds;• You lost this...• We will reallocate that....• No mortgage for you• Economics will ????How about my personal situation today?
  5. 5. How do consumers feel?
  6. 6. Wouldn’t it be nice if.. Your customer would be your advocate Financial advice would be easy to communicate Your customer would really understand You could access your personal financial information anytime, anywhere on any device
  7. 7. It is possible! How?
  8. 8. Engage with your customer
  9. 9. Customer Engagement Lifecycle DISTRACTING APPEALING ADDICTIVE ADVOCACYCollectiveCo-CreatedConnectedRequestedInvasive
  10. 10. Why customer advocacy? “Customers who rate their firms highest on customer advocacy are the customers least likely to leave. Likewise, customers who rate their firms high on customer advocacy are most likely to consider those firms for future purchases”“Customer Advocacy 2011: How Customers Rate US Banks, Investment Firms, AndInsurers” by Bill Doyle, Forrester Research, Inc. 8, March, 2011
  11. 11. “37% of respondents of Consumer Reports,February 2012, selected their brokeragebased on a recommendation from family,friends or a professional.”
  12. 12. Three steps to customer advocacy1. Give your customer control2. Join the conversation3. Activate your customer
  13. 13. Step 1: Customer in control
  14. 14. Give your customer control  Upgrade services with improved client access  Provided by Financial Advisor  Let clients do what they would like; • Insight anytime • Do it yourself  Financial Advisor for in- depth advice
  15. 15. Step 2: Join the conversation
  16. 16. Join the dialogue
  17. 17. Step 3: Activate your customer
  18. 18. Activate your customer Online surveys, profiling Get into the shoebox Data control by advisor and consumer Figlo Platform widgets
  19. 19. Figlo Platform - widgets
  20. 20. Personalized information Financial Planning data and calculations based on client file Integrated external data, Social Media Survey creation tool for extended profiling Outcome exposed through widgets Business rules to control content of interface Content Management System for dummies
  21. 21. Behind the scenes
  22. 22. Financial Widgets• Add widgets on the pages
  23. 23. Business RulesExample: If income is <100K, then don’t show widget If disabilty income is less then 25K show widget
  24. 24. Customer Expercience
  25. 25.  Simplifying financial information in a way consumers fully understand Financial advice based on what consumers really want and need ‘Do it yourself’ planning Connection with ‘integrated’ Financial Advisor
  26. 26. Advisor Experience
  27. 27.  Better client communication and collaboration Keep up with client demands More opportunities for cross- and deep selling Increase efficiency
  28. 28. Total package for client engagement Financial Advisor Financial Planning solution  Integrated data  Have Want Need Do process Controlled Client acces  Widget based portal  Dynamic content
  29. 29. It is not JUST about clientengagement
  30. 30. Let us connect the dots for you
  31. 31. Connecting your knowledge and oursolutions Your own online financial insight solution, based on widgets Personal Finance Management (PFM) is the gateway to Financial Product Advice (FPA) and Personal Financial Planning (PFP) Let us connect the dots for you
  32. 32. The Power of Financial Insight

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