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Digital Investing: The Last Frontier


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Devon McConnell, Wells Fargo Advisors

The financial services industry is now at a change moment. There are two major change drivers today – customers’ digital expectations and increased regulations. It’s the perfect storm. And it’s driving us to look at the very basic operating models we work under to meet new demands. Devon McConnell, Head of Digital for Wells Fargo Advisors will share how she and her team are leading an internal transformation to bring agile and lean practices to build out the firm’s digital experience for a new group of investors. Money is deeply personal. Building a compelling and trustworthy experience is critical, but wrought with uncertainty. Devon explores how she has incorporated the focus of emotional design into key projects at Wells Fargo Advisors, now and in the future.

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Digital Investing: The Last Frontier

  1. 1. © 2014 Wells Fargo Advisors, LLC. All rights reserved.. Devon McConnell Internal Use Only Digital Investing – The Last Digital Frontier
  2. 2. © 2013 Wells Fargo Bank, N.A. All rights reserved. Confidential – Do Not Distribute. This is a story about your money
  3. 3. 2 2 Advisors wear different hats and the landscape continues to change stock market experts and info source 24 hour news cycle funds developed (ETFs) auto investment services online planning tools trusted advisor portfolio managers Robo- adviors
  4. 4. 3 Digitally this looks like… For Internal Use Only 1990s 2000s 2010s Hello World How can I help you? Can I manage your life savings for you?
  5. 5. 4 And then there’s this…
  6. 6. © 2013 Wells Fargo Bank, N.A. All rights reserved. Confidential – Do Not Distribute. Life on the frontier
  7. 7. It’s about trust, and it’s earned
  8. 8. Emotional Design Compelling Valuable Usable User Centered Design Emotional Design
  9. 9. The old ways of managing uncertainty won’t work • Business cases • Consensus • Documentation • Task forces and committees 2 - 3 years later waterfall development
  10. 10. © 2013 Wells Fargo Bank, N.A. All rights reserved. Confidential – Do Not Distribute. Velocity = Speed + Direction For us that means Agile + Lean
  11. 11. Requiring a new operating model task completion KPIsSuccess measures generalists specialistsTalent consensus empowered teamDecision making waterfall agileMethodology project-based product-basedInvestment From… To…
  12. 12. Our first step out looked like this…
  13. 13. Purchase 13 What we were hoping for was this…AppealingEffectivePleasurableMemorable Landing Page Questionnaire Recommendation This feels great I’m Interested That was useful advice I love it Connected Having fun This was awesome I am fully engaged I want to invest I trust them I feel confident It’s usefulI know what to do next I am learning Helpful Informational Credible Approachable Grabbed attention
  14. 14. Purchase 14 …what we found was this…AppealingEffectivePleasurableMemorable Credible Simple, easy No distractions on site Helpful Relief I’m curious I am motivated to do what’s next Easy Straightforward Educational Limited Informational Clear Landing Page Questionnaire Recommendation Friendly Informational
  15. 15. 15 Drum roll…
  16. 16. There are few things more personal and emotional than money
  17. 17. Wells Fargo Advisors is the trade name used by two separate, registered broker dealers: Wells Fargo Advisors, LLC, and Wells Fargo Advisors Financial Network, LLC, Members SIPC, non- bank affiliates of Wells Fargo & Company.