To what degree does the proficiency in financial literacy among potential clients shape their choice to participate in wealth management services, and what strategies can wealth management firms employ to attract clients in response to this influence?
The study aims to uncover how a lack of financial literacy presents challenges for advisors and firms and understand the resulting impact on acquiring clients. –
create customer journey maps, illustrating individuals’ typical interactions and experiences with investment management services. The aim was to identify critical touchpoints, pain points, and opportunities for enhancing client involvement in investment management services by mapping the customer journey.
Additionally, this study aims to explore the varied strategies that wealth management firms currently utilize to tackle the challenges presented by clients with varying levels of financial literacy. By examining the existing practices within the industry, the research seeks to pinpoint successful approaches and areas that may need improvement.
In sequence, this research also aims to propose effective strategies for wealth management firms. The focus here is on attracting clients while accounting for the spectrum of financial literacy within their customer base.
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