PIETech, Inc.

Disruptors (Industry), Technology Providers (Thought Leadership, Financial Planning)

With Americans unprepared for retirement, PIEtech expl ored the stress involved in different financial planning environments. Using a biometric device, clients’ and advisor’s heart rate, skin temperature and sweat were measured. The research showed that consumers experience higher stress during the data gathering phase and that their stress decreased as they progressed. Consumers were less stressed when they completed their da ta gathering and created their basic financial plan online from home and were least stressed with guided online data gathering/planning followed by a virtual advisor meeting. Advisors added value, decreasing consumers ’ stress levels and improving the accuracy of their data. This unique research provided data that helps advisors engage clients more comfortably throughout the planning process and helps keep clients ’ stress levels low.

Initiative

Biometric testing of financial planning stress levels

With large numbers of Americans unprepared for retirement, PIEtech decided to explore the stress level involved in different financial planning environments. Using a biometric measurement device, clients’ and advisor’s heart rate, skin temperature and sweat were measured throughout the planning process.

The research showed that consumers experience higher stress during the pre-work/data gathering phase and that their stress level decreased as they progressed. Consumers were less stressed when they completed their data gathering and created their basic financial plan online from home. The least stressful situation was the pairing of the guided online data gathering and planning followed by the virtual advisor meeting. The value ofan advisor was clear, decreasing consumers’ stress levels and improving the accuracy of their data. Even during the money/asset discussion, working with the advisor lowered stress. Interestingly, the advisor’s stress level was more elevated during the money, risk and plan improvement portions of the planning process. The research also showed stress level differences by age, gender, affluence, and employment level.

This unique research provided data that helps advisors engage clients more comfortably throughout the planning process and helps keep clients’ stress levels low. The qualitative research showed that consumers would highly recommend creating a financial plan and were very comfortable going through an online guided experience (myMoneyGuide). PIEtech believes that “everyone needs and deserves a quality financial plan.”By making planning less stressful we may help advisors reach more Americans and help more Americans achieve their goals.

myMoneyGuide – Online guided planning experience

myMoneyGuide changes have been made to provide new ways for advisors and consumers to engage on financial planning. Users can choose to have new shorter videos play automatically as they navigate through the software or to play them as needed. myMoneyGuide is now available 24 hours a day on demand.

To help meet advisors’ needs, attendee information is immediately available under the advisor’s MoneyGuidePro® license, saving them considerable time and effort. The interface through which they access their guests’ enrollment and attendance information has also been streamlined. We have dramatically enhanced our ability to customize myMoneyGuide to meet the requests of large financial institutions who want to“white label” the program to meet their unique needs.

Biometric testing of financial planning stress levels

With large numbers of Americans unprepared for retirement, PIEtech decided to explore the stress level involved in different financial planning environments. Using a biometric measurement device, clients ’ and advisor ’ s heart rate, skin temperature and sweat were measured throughout the planning process.

The research showed that consumers experience higher stress during the pre-work/data gathering phase and that their stress level decreased as they progressed. Consumers were less stressed when they completed their data gathering and created their basic financial plan online from home. The least stressful situation was the pairing of the guided online data gathering and planning followed by the virtual advisor meeting. The value of an advisor was clear, decreasing consumers ’ stress levels and improving the accuracy of their data. Even during the money/asset discussion, working with the advisor lowered stress. Interestingly, the advisor ’ s stress level was more elevated during the money, risk and plan improvement portions of the planning process. The research also showed stress level differences by age, gender, affluence, and employment level.

This unique research provided data that helps advisors en gage clients more comfortably throughout the planning process and helps keep clients ’ stress levels low. The qualitative research showed that consumers would highly recommend creating a financial plan and were very comfortable going through an online guided experience (myMoneyGuide). PIEtech believes that “ everyone needs and deserves a quality financial plan. ” By making planning less stressful we may help advisors reach more Americans and help more Americans achieve their goals.

Category Finalists

Technology Providers (Financial Planning)

Technology Providers (Thought Leadership)

Key Business Leader

Bob Curtis
CEO

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