The Future of the SOA – How can we help our clients digest information from an SOA – pt 2
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How else can we help our clients digest information from an SOA? Part two
Quiz or interactive feedback
With a focus on understanding advice and not just disclosing information, designing advice documents to be interactive increases client engagement. It can inform planners and compliance teams that clients “understand” the information provided.
This provides reassurance that any decisions made by clients to proceed with recommendations are done from a place of understanding and comfort. Decisions made here would be considered engaged consent.
A major misconception by the advice profession that needs to be addressed is the assumption that graphs are for visual people.
Graphs are not visual, they are auditory digital, to a majority of people graphs need explaining.
Graphs also rely on a particular level of financial literacy to be understood, if that literacy is not there, clients will need to translate the information making an assumption to fill the knowledge gap.