For advisors, being able to help retail clients answer these questions is a step on the path to success. If I learned anything from my experience leading one of the country’s largest independent brokerage and advisory firms, it’s that the best advisors know how to get to the right answers.

But the emphasis should never be on the question, “What did our portfolio return this quarter?” Getting to that answer is a zero sum game. The better approach is to focus on building a portfolio that can deliver on a client’s goals — whether it’s providing for family or preparing for retirement.  

We look for tools that make these conversations easier and center our technology solution around goal-oriented planning — always a good starting point.

Getting customers to save more, spend wisely and avoid panic is what it’s all about. It’s that simple.

But advisors need help. A complex process, hand-crafting an approach for every client is hard for advisors to do on their own — a challenge compounded by the pressures of running a wealth management practice.

That’s where technology comes in.

If you are an entrepreneur, bring on the software! Use it to show the meaning of money and illustrate the progress investors can make with smart savings habits. Help clients make better decisions about money.  

We will continue to look for these solutions. We are now monitoring several promising behavioral finance startups. Who knows? Perhaps one day we’ll join one or more of them on their business journey.

Mark Casady
General Partner Vestigo Ventures