eMoney is set to launch premium client portal, new planning features

Porsche said the premium version of the portal will be supported by a new and “completely seamless” mobile app.

“Our vision is for the decision center to be the hub for all your planning needs and to eliminate the need to switch between multiple tools and areas to compare decisions and options,” said Porsche.

Innovation backed by research

The summit’s opening presentation also included a review of consumer research conducted by eMoney in partnership with Bellomy Research, the results of which were used to help guide future improvements to the platform. The results were detailed by Emily Koochel, the manager of financial wellness and education initiatives for eMoney.

“Our research shows that the vast majority of advisors believe that personalization is critical to the planning process,” Koochel said. “They know success won’t come from taking a cookie-cutter planning approach, and customers agree.”

Advisors distinguish themselves in the planning process by incorporating key principles from psychology and behavioral finance, Koochel said. Addressing these areas while working in a collaborative technology environment is associated with high degrees of trust and satisfaction.

“Doing this work involves taking steps together, such as analyzing the current course of action, demonstrating the different scenarios or options side by side, and then showing the impact of the possible options on the plan,” he explained Koochel. “Clients also want their advisor to review past assumptions and review past choices. That’s the foundation of collaborative work.”

Ultimately, Koochel said, clients resonate most with advisors who can “tell me and show me that I’m fine,” and they want the advisor to tell them how they know it.

“If you do that education and walk them through stress testing for worst-case scenarios, customers will trust you more deeply,” Koochel said. “There is also evidence that these activities lead to greater referrals and more success for the advisor overall.”

Pictured: Susan McKenna