Every family wants the best for their loved ones and in wealth management, this means putting your best effort to make the right financial decisions.
How do we naturally go around doing this? We usually surround ourselves with a team of experts and rely on them to reach our financial goals.
The most disciplined individuals commit to regimented habits to stay in control of their financial life: portfolio reviews, tax filings on time and periodic saving. That said even if you see your favourite financial expert every 90 days, life usually happens in the remaining 89 where you don’t.
Even if you have the most productive meeting, the work you require really starts the moment you walk out the door.
- How can you be sure that your portfolio is managed as expected? Especially when markets are volatile
- How can you know that all required tasks are progressing as they should? Especially when your family’s well being is tied to those outcomes
- How can you be confident that your plan is adapting to your changing needs? Especially when the business environment is constantly evolving
In the current reality, you simply can’t. This is due to one simple reason: the wealth management industry is not as transparent as it should be. Clients can’t clearly see what financial experts are doing for them and experts often discover their client needs and concerns too little too late.
We have seen this breakdown happen many times, that we coined the 'Black Box Problem': a two way problem that leaves value on the table for both financial experts and their clients.
Unfortunately, this reduced visibility can have a ripple effect on everyone. Clients are not sure they are getting the most value for what they are paying and this ultimately reduces their peace of mind and sense of control.
Good advisors can’t make their value visible which reduces the perceived quality of their work. And as you grow your team of experts, the Black Box Problem gets magnified because the people that are supposed to work together can’t easily collaborate.
With each party blindfolded, it becomes very difficult to know that your money and family goals are being managed the way they should.
What if together, we could create a new standard of doing business. In order to deliver more for everyone, we have built the following:
- A family dashboard that allows you to customize the value you receive
- A timeline that tracks how your wealth is managed
- A nudging tool that ensures that your voice is heard loud and clear
We know that this is a tall order, but nothing ventured nothing gained.
We decided to build a wealth management platform that brings clients and experts together, to increase confidence in financial decisions.