A Perfect Storm in the financial services marketplace for a personal financial management (PFM) tool
It certainly feels like a perfect storm is unfolding at the moment that we think provides an opportunity for financial organizations & professionals to provide clients with a personal financial management tool offering a Win/Win benefits.
The challenges are many:
- Demographics: Aging/Sandwich Generation/Smaller families
- Demographics: Increased longevity/Rise in incapacity
- Increasing need for enhanced financial literacy
- Increased risk related to Inter-generational wealth transfers ($41 Trillion)
- Push to ‘paperless’ reporting
- Increasing Complexity of personal finances/impact on executing estates
- High levels of personal financial stress impacting productivity in the workplace
- Increase in the number and impact of natural/physical disasters highlighting the need for emergency preparedness
- The need to differentiate in the marketplace due to fierce competition
- Higher expectations from clients to show value for fees
- An alarming rise in the balance of unclaimed financial assets ($63 Billion)
- Increased appetite for technology tools particularly from younger generations to manage their financial lives
- Continued procrastination on the part of individuals & families to have important conversations about estate planning/final wishes
A little organization can make a BIG difference.
LegacyTracker helps clients simplify, safeguard & share their important financial & estate info, documents & to do’s with loved ones and/or advisors.
Better Organized Clients are Better Clients.
LegacyTracker can provide a Win/Win solution for Organizations:
- Enhanced Loyalty/Retention/Referrals by demonstrating Customer Advocacy
- Better Differentiation in the market
- Better Insight into the challenges & needs of clients for products & services
- Improved engagement/collaboration with clients (“Do More”)
- Reduced costs related to marketing/on-boarding
- Increased Revenue/Profit
We think that all leads to Increased Revenue/Profit on your bottom line with happier clients
Get in Touch/Connect for the details