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
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?
7. 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
12. 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, And
Insurers” by Bill Doyle, Forrester Research, Inc. 8, March, 2011
13. “37% of respondents of Consumer Reports,
February 2012, selected their brokerage
based on a recommendation from family,
friends or a professional.”
14. Three steps to customer advocacy
1. Give your customer control
2. Join the conversation
3. Activate your customer
16. 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
22. 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
28. 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
30. Better client communication and
collaboration
Keep up with client demands
More opportunities for cross- and deep
selling
Increase efficiency
31. 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
34. Connecting your knowledge and our
solutions
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