When it comes to talking to clients about their finances and retirement planning, it pays to know their financial planning personality type. A new Alliance for Lifetime Income quiz, informed by research from the Artemis Strategy Group, can help guide the conversation.
Purpose of the Financial Planning Personality Quiz:
For Consumers
The quiz results offer clear directions for clarifying their financial picture, including an introduction to the benefits of protected lifetime income.
For Financial Professionals
Encourage your clients to take the quiz and share the results. Knowing their personality type will help you engage with them better.
What’s Behind the Quiz?
Powerful new research by the Artemis Strategy Group delves into differences by group:
- The nature of their retirement outlook
- Their personalities and decision-making styles
- Their preparation and current circumstances
Getting to know your clients’ financial planning personality helps you frame up conversations. And it goes beyond assessing a client’s risk profile. It assesses what motivates them. Depending on the group a client falls into, you might need to use a different set of examples and a different way of presenting information to them.
Get to know the Five Financial Personalities
Hover over each tile for more.
Cautious preparers
Help them broaden their options
- Have modest retirement expectations
- Are risk averse
- Need encouragement
- Crave annuities, but don’t know how they work
Ambitious risk-takers
Show them the possibilities
- Slightly younger, well educated
- Want a social, busy, active retirement
- Currently in the accumulation phase
- Confident in their planning
- Open to new ideas
Purposeful planners
Encourage them to do more
- Have built up financial resources
- Have started planning
- Desire a well-rounded retirement
- Confident but cautious
Optimistic dreamers
Help them take control and buckle down
- Unprepared for retirement
- Off course, discouraged, with low expectations
- Have not given retirement the attention it deserves
Hopeful strivers
Give them a vision for the future
- Haven’t focused on early retirement steps
- Don’t relate to the idea of financial risk
- Need a basic roadmap for personal finance