It is a truth universally acknowledged, that a financial services provider in possession of good, honest monetary advice, must be met with mistrust.
It isn’t news that behavioural biases can adversely effect clients’ investment decisions, nor is it surprising that those biases can lead customers to loss-inducing, self-sabotaging behaviour.
However, when a provider or adviser tries to explain biases without the use of tools like Wi-Ai’s, clients may be sceptical. They might suspect the financial professional is simply “making up” a story in order to hoodwink the client and retain their custom.
Wi-Ai tools help customers see that biases are well-known phenomena. Moreover, since this data comes from a third-party source, clients are less likely to mistrust it – thus increasing their confidence in the rationale offered by providers and advisers. What’s more, the tool also provides an enhanced audit trail for any discussion and may be used across a population of clients to provide MI to regulators.
For more information on how Wi-Ai can help you and your customers achieve profitable, harmonious relationships, contact us at [email protected]