Seizing the Moment to Motivate Financial Wellness

John Milne – 02/25/2021

Over the past year, there’s been renewed focus around one simple word: wellness. There’s “psychological wellness,” when trying to balance the competing priorities of work, relationships, kids, and health.  Then there’s “emotional wellness,” with so many people having to cope with increased stress and anxiety.  And of course “physical wellness,” which has taken a front seat as the world fights back against COVID-19.  This introspection has forced society to slow down and spend time and energy on what is most important. 

Advisors have a tremendous opportunity to motivate their clients to hone in on another area – “financial wellness.” Advisors can help their clients realize the role financial fitness plays in “funding” many of their wellness needs. Whether it’s financing a trip to mentally reset, budgeting to order takeout in support of local businesses, or buying kayaks to stay active and enjoy a breath of fresh air. Now is the time for advisors to showcase their value and empower clients as they make their new dreams a reality. An advisor who embraces technology can easily relay information to clients in a personalized, meaningful, and convenient way.

The Black Diamond® Wealth Platform has long realized the importance of connecting advisors and clients. For years, the team has delivered tools that help advisors both communicate and illustrate the financial wellness concept by shifting focus to personal and long-term fulfillment instead of short-term portfolio performance. Most notably, advisors can offer the Client Experience portal to their clients, which serves as an interactive and immersive hub for them to view their complete wealth picture. 

For example, within the Client Experience portal, the Relationship Timeline is a real-time communication feed where advisors can send reminders outlining steps clients can take to reach their goals. Likewise, through the To-Do List, tasks keep clients aware and accountable for immediate responsibilities such as signing a document or transferring money. Outside account aggregation, partnered with a collaborative and flexible balance sheet, also helps remind clients of what’s important.

With the continued understanding of technology’s role in delivering holistic financial advice, the Black Diamond team is investing even more this year in the features that help advisors portray their strategy and message. Developments to come include a more robust and centralized financial planning experience as well as balance sheet and net worth reporting advancements that include enhanced visualizations and easier account aggregation. There will also be more attention on incorporating ESG investing, estate planning, and insurance to ensure that advisors can meet clients’ needs as they continue to evolve.

During client discussions, it’s important for an advisor to pull back the curtain and ask their clients, “What does financial success mean to you?”  Everyone has their own personal why and now is the ideal time for an advisor to learn more about their clients and ensure their financial strategy is in alignment.  The answer to this question will continue to change over time, so it’s also important to revisit what success looks like for each client as life events continue to take place.


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