The Current State

It requires more than a simple snapshot of a client’s assets and liabilities to understand their true financial situation—but how do advisors get a more holistic understanding?

The big development opportunities for advisors are around getting higher-quality financial data and exploring the intangible and human aspects of a client’s financial situation more deeply:

  • Identify opportunities to migrate toward digital data aggregation; it’s more efficient (and has the added benefit of being more accurate).
  • Size up the intangible and “human factors” in a client’s financial situation that most influence their ability to generate future savings and achieve financial goals.

Our Research

See the overall benchmark results for the Client Financial Situation activity area:


Download Activity Area Benchmarks


Resources to Help You Succeed


Development Opportunities

Are you exploring how clients’ beliefs, attitudes, and personal history around money are shaping their financial behavior? 



Some clients may (initially) be closed to deeper discovery; do you have a way to meet clients where they're at?




Learn about how advisors can integrate more psychology-based ideas and frameworks into their client engagement process: access article

Learn more about the Klontz Money Script Inventory: review article


Develop a tool set for gradually discovering client's beliefs, attitudes, and relationship around money (contributions from Money Quotient):

For many clients—one of their biggest assets (or liabilities) may be their human capital. Are you factoring this into their financial situation?


Learn more about how human capital (and other less tangible assets) can be captured in a client’s financial situation: review article


The client’s deeper beliefs, attitudes, and personal relationship with money may only come to the surface during the planning process.  Are you keeping a “discovery mindset” during planning?