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Frequently Asked Questions

1. What is Finworx360?

Finworx360 is a segmentation tool that gives financial advisors a deep, actionable understanding of their clients’ and prospects’ behavior to best assist them in improving investment outcomes. Designed by CFA charterholders based on 40 years of research in behavioral finance, our solution is both easy to use and highly effective.

2. How does Finworx360 help with segmentation?

Using our 10-minute Behavioral Risk Survey, each Finworx360 profile reveals an investor’s persona, risk preferences, emotional and cognitive biases, attitudes toward losses, gains, and leverage, and persona-based communication tips.

3. Why should advisors use Finworx360?

Advisors should use Finworx360 to gain insights into their clients’ behavior, segment their book by persona type, create deeper trust through personalized communication, increase satisfaction among clients, and ultimately, grow their practice.

4. How can Finworx360 help me grow my business or enrich my client relationships?

Our proprietary personas allow you to understand each of your clients on a deeper level and communicate with them more effectively. Having a better understanding of how your clients and prospects make decisions helps you communicate more clearly, relate on a more personal level, and exhibit your value more effectively.

5. Does Finworx360 keep my information private and protect the privacy of my clients?

3 Privacy Promises:

  1. We will not contact any of your clients or prospects at any time for any reason.
  2. Anything you upload into Finworx360 and all survey information is kept 100% private.
  3. Neither your clients nor prospects will receive a copy of their survey results or any information on their biases or investor personas. Behavioral Risk Survey results are for your internal use only.
6. How easy is it to use?

Very! Finworx360 is purchased and operated online. The survey is easy to send and quick to complete. Our reports break down everything advisors need to know about each contact’s results, including which behavioral biases they may have and what each one means. And our investor personas provide a quick, easy view of contacts’ risk preferences, investment styles, and communication tips at a glance.

7. How does the Behavioral Risk Survey (BRS) work?

Advisors simply email their unique BRS link to their clients and/or prospects, inviting them to take a brief online survey via desktop or mobile device. The survey only takes about 10 minutes to complete and features forced-choice questions designed to surface insights on each client’s behavior and investment preferences.

8. What insights does the BRS provide?

The BRS will provide the advisor with a comprehensive risk assessment identifying the client’s unique persona type and risk tolerance score, as well as an overview of their cognitive and emotional biases and best practices for communicating with the client, based on their results.

9. How is Finworx360 different from what you were doing before?

Finworx360 is not entirely different from what we were doing before. We learned from our customers (and validated in the market) that we could further our impact by focusing directly on the value of segmentation at a persona level to simplify our process for driving better outcomes. By concentrating our efforts more on segmentation and less on content creation and distribution, we are able to lower our price point and expand our product reach to advisors at all levels on all platforms.

10. I am a wirehouse advisor, can I use Finworx360?

Absolutely. Finworx360 is available to all registered financial representatives and can be purchased online on either a month-to-month basis or a yearly subscription with an attractive discount.

11. How does Finworx360 impact compliance?

We believe Finworx360 can be a valuable tool in helping you with regulatory compliance. Whether it’s FINRA requirements, fiduciary standards, DOL legislation, or industry best practices, you are expected to truly know each client to serve their best interest. That is the purpose of our risk assessment and behavioral segmentation. If you have your clients take the Behavioral Risk Survey regularly, it can also help you monitor any potential changes in their attitudes toward risk over time.

12. How much is Finworx360 and where can I get it?

Finworx360 offers various plans, starting with a special promotional rate of $77/month, and discounts for yearly subscribers. We also offer special enterprise pricing for larger organizations with 50+ advisors. Contact our team to find out more.