Simplifying investors' asset allocation process.
A top financial services company wasn't offering the online tools and guidance needed to help their individual investors balance their portfolios. To better serve customer needs and improve their competitive position, we were tasked with building a tool that would promote engagement, help educate, and simplify the complex process allocating assets into a diversified portfolio.
This financial services giant had a substantial number of retail brokerage customers whose portfolios were largely neglected. These clients were rarely evaluating investment options or allocating assets because there were no dynamic guidance tools to do so. The company was also facing lost opportunities to attract new clients who tend to be self-directed in investing, such as Gen-Y individuals and affluent DIY investors. Additionally, competitors were already offering this service, putting the company behind in the competitive financial services marketplace.
To address these issues, we architected and designed an easy-to-use tool that helps investors manage their portfolios and take charge of their financial futures. Now, self-directed brokerage customers are guided through a short series of questions to help them explore investment options. Based on a client's age, preferred level of risk, and financial objectives, customers can explore appropriate mutual fund options ranging from a single diversified fund, to asset allocation models composed of multiple mutual funds. This provides customers with better ways to educate themselves on the various types of investment offerings and simplifies the asset allocation process. Our work helped this financial services giant expand its offerings, retain and attract customers, boost product sales, and stay technologically competitive.