eMoney 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 application.

“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,” Porsche said.

Innovation Backed by Research

The opening presentation of the summit also included a review of consumer research conducted by eMoney in collaboration with Bellomy Research, the findings of which were used to help guide the forthcoming platform enhancements. 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 personalization is central to the planning process,” Koochel said. “They know success isn’t going to come from taking a cookie-cutter approach to planning, and clients agree.”

Advisors are distinguishing themselves in the planning process by incorporating key principles of 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 possible choices on the plan,” Koochel explained. “Clients also want their advisor to be reviewing past assumptions and reviewing past choices. This is the foundation of collaborative work.”

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

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

Pictured: Susan McKenna