A picture paints a thousand words. We all know the saying and its meaning as it relates to people’s quick understanding of any concept or situation based on a single image rather than paragraphs of text, and so that begs the question why don’t we use this to our advantage? How does an adviser show a client that their advice is worth it? Paint a picture… or in adviser speak… model a scenario.
Christchurch based software solutions company OMNIMax have developed web-based modelling tools or calculators that allow advisers to guide clients through a discovery process quickly and efficiently. The tools allow the adviser to model a scenario specific to the client in real-time using their age, current salary, and the specifics of their own goals for example, add in a bi-annual holiday, house upgrade or new car, and see immediately how it effects their ability to live comfortably in retirement.
“During a financial health check the Banking Advisor showed me how much savings I would have at 65 years old if I continued with my current contributions. That was an eye opener, I almost felt panicky. She then showed me what a difference it makes if I just put in $10 per week as a voluntary contribution, that is only the equivalent of 2 coffees per week and it made a huge difference! Awesome!”
“We had some customers that were astonished when we showed them how their savings will shape up when they retire. They had no idea of the positive impact that some small additional contributions can make over time. When we share our screen with our customers it’s a real wake-up call!”
No more complicated lengthy spreadsheets or generic outcomes from fund providers, advisers can now empower their clients to reach their goals with these interactive online tools. Take a step further and evaluate the clients risk appetite and apply it to their scenario – show instantly the difference a growth fund makes versus a conservative fund, the OMNIMax OMNIEngage tools display visuals in a way that clients can understand so advisers can easily gain their trust and their custom.
“BNZ staff are now better equipped to have quality conversations with our customers on the benefits of the BNZ KiwiSaver scheme and the impact of customer choices on their outcomes. The tool is a meaningful step forward for us in helping our customers to understand a complex wealth product, resulting in customers being better equipped to choose an appropriate fund for their situation” Peter Forster, General Manager – Wealth, BNZ.
Talk to OMNIMax for your obligation-free demonstration.