Netwealth IQ Report - Advisable Australian Research
Bridging the value gap to win new clients
Convert prospects into clients using the principles of behavioural science
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This report is based on our 2024 Advisable Australian research and uses the latest advancements in behavioural science to help you gain a deeper understanding of how prospective clients form judgments and make decisions regarding financial advice. Learn how to close the “value gap” by altering perceptions, turning those new and positive beliefs into action, and converting prospects into clients.
Understand what ‘value for money’ means for prospective clients:
Netwealth’s 2024 Advisable Australian research paints a vivid picture of the opportunities financial advisers face in engaging potential clients.
One of the main findings of our research is that the barriers to advice is not just price, but largely deep-rooted emotional drivers, like being loss-adverse, being focused on today or having an unrealistic overconfidence in financial abilities.
Whether you are communicating digitally via your website, or in person, the language you use can sway a prospect. Our research has identified that certain persuasive language can articulate value better, so it is important that advice firms spend time crafting appropriate language to use.
One way to bridge the value gap is to educate prospects and help them navigate complex financial decisions. Our research shows that most prospects want to learn and understand their finances, not just receive advice. They seek to enhance their financial literacy by challenging themselves with new perspectives and insights.
The use of case-studies that showcase how your firm has helped clients with similar goals, challenges, circumstances and even background is an important tool for advice firms to demonstrate value and increase trust and credibility.
Value is ambiguous, however with Netwealth’s Value for Money Model we have defined three key drivers: motivation, ease, and context.
In this self-guided workshop you and your team will utilise Netwealth's Value for Money model to uncover the touchpoints that matter for your prospects and develop actionable plans to turn them into clients.
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