Simple, but Not Easy
by Morningstar
Latest Business Ideas
Checklist-Based Goal Articulation Tool
Market Gap: Clients struggle to articulate and prioritize their financial goals.
This idea proposes the development of a digital tool that utilizes a structured checklist to help clients articulate their financial goals more effectively. The tool would guide users through a three-step process, allowing them to brainstorm goals, evaluate preferences through a checklist, and refine their objectives. By simplifying the cognitive process involved in goal setting, this tool can enhance the quality of client-advisor conversations and foster stronger relationships. Target users would include individual investors and financial advisors seeking to improve client engagement. Implementation could involve creating a mobile or web app that advisors can use during client meetings to facilitate discussions.
From: Advisor–Client Relationships Are Stronger When Goals Come First
Goal-Centric Financial Planning Platform
Market Gap: Investors lack personalized, goal-oriented financial planning tools.
The idea is to create a goal-centric financial planning platform that helps clients clearly define their financial objectives and track progress towards them. This platform would leverage a structured three-step process to facilitate goal setting, as discussed in the episode. By providing tools such as checklists and progress tracking features, the platform can help clients articulate their financial aspirations and align their investment strategies accordingly. The target audience would include individual investors and financial advisors looking to enhance their client relationships. The implementation could involve developing a web-based application with user-friendly interfaces for both clients and advisors, integrating behavioral finance principles to encourage better decision-making.
From: Advisor–Client Relationships Are Stronger When Goals Come First
Recent Episodes
Advisor–Client Relationships Are Stronger When Goals Come First
Host: Nick Vandersky
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