Win New Clients with Capital Preferences
In this article:
- Initiate purposeful client engagement
- Connect preferences to portfolios in just five clicks
- Create personalised financial plans that stick the first time, every time
To win a prospective client, it's crucial to strategically engage them, understand their unique situation, and instill confidence that the advice you offer will help them achieve their goals.
The Capital Preferences Risk Profiling Solution is built to help you efficiently and consistently achieve each of these.
Initiate Purposeful Client Engagement
Begin your conversation with a prospective client by inviting them to complete the Risk Activity as an exploratory exercise that demonstrates you truly understand their risk preferences. You can either do this virtually or in-person.
The activity is only a few minutes long, has a 95% unaided completion rate, and is preferred by clients 3:1 to questionnaires.
For tips and sample scripts on how to introduce clients to the Risk Activity, check out this article.
Connect preferences to portfolios in just five clicks
After the client has completed the Risk Activity, the next step is to meet with them and discuss their results.
In just five clicks, you will be able to demonstrate to the client that you deeply understand their risk preferences and outline a suitable investment plan that balances their Risk Comfort with their Goals.
The meeting begins by framing out the importance of balancing the client’s preferences, goals and constraints when creating an investment plan, followed by reviewing the client’s Decision Consistency, Attitude to Risk, and Sensitivity to Loss results from the activity.
After reviewing the client’s results, you’ll then look at the client’s Risk Comfort score for each of your firm’s model portfolios use the Goal Projector screens to forecast how achievable the client’s goal is across each of the portfolio options.
This is where you and the client can have a robust conversation about which portfolio is most suitable to them and their goals. It is also a chance to convincingly demonstrate how your advice offering will help them achieve their goals, while remaining comfortable with risk throughout.
Create personalised financial plans that stick the first time, every time
After deliberating with your client which portfolio is most suitable for them, confirm the selection and record for compliance purposes the primary reason(s) why you and the client made that decision.
A PDF report is then generated summarising all of the content you and the client covered during your investment meeting, which you can then send them to further solidify the investment plan you both have decided on.
Did this answer your question?
If not, please feel free to reach out to us at customer-support@capitalpreferences.com