If there is one thing we’ve learned over the last 15 years about wealth planning, it is this: before making any major life or financial decisions, it is critical to 1st understand your financial personality. Human behaviour impacts every aspect of building and following-through on your long-term financial plan. In fact, experience and research shows that 5% of your wealth creation comes from investments and 95% from your behaviour.
As part of our mission to better understand why our clients make the financial decisions they make, we discovered Financial DNA®.
What is Financial DNA?
Financial DNA is your unique financial personality code, which is made up of two components:
- Natural (hard-wired) behaviour which is set by the time you reach a very young age, and remains constant throughout your life; and
- Learned financial behaviours and preferences which are situational and continually evolve throughout your life as you accumulate experiences with family, friends, work, play, and other life situations.
Why is this relevant?
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Ultimately, you want to engineer, own and keep a portfolio that aligns your natural and learned financial behaviours with your short and long-term goals.
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Typically, questionnaires that are used to assess your risk tolerance uncover only your learned behaviours, which may not be in alignment with your financial goals and your long term portfolio targets.
What is the Process?
The Financial DNA Discovery Process is made up of 2 stand-alone phases which progressively build on each other. Each of these phases can be completed online.
We invite all our existing and prospective clients to complete each of these online profiles. Each profile takes approximately 10 to 15 minutes to complete and each report is sent automatically to you via e-mail. If you are not comfortable completing Financial DNA profiles prior to the meeting we can review our process in more detail during our discovery meeting.
