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Enabling better financial conversations

Our work has helped Old Mutual Wealth learn how to enable people to have a better conversation about money

If you’ve ever sat with a financial adviser, you know the first meeting can be daunting. Sharing your financial history, wading through the quagmire of strange sounding products and knowing the decisions you make will affect you and your family into the future.

Old Mutual Wealth wanted to know how they could use digital innovation to give people a head-start on their journey towards financial advice. Specifically, they wanted to learn how they could remove the uncertainty people feel about their finances, and paradoxically promote a wider focus on more than money.

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We created a best in class corporate website for a FTSE 250 IPO listing, putting the audience's needs first and helping them self-serve where possible whilst also defining the digital articulation of a new brand.

Neal Archbold

Head of Innovation and Strategy - Big Radical

The assignment

In order to discover how the company could break though the way its financial advisers deliver advice, the Big Radical team decided to map out the experience people go through when seeking financial advice.

Within 20 days, we helped the client to understand the opportunities for introducing a new touch point into the journey and how they could enable advisers to move beyond money, drawing out the person’s life goals.

From the first phone call or email, to walking through the door of the adviser; we stripped down the key points where the customer may feel unease or could be motivated to explore for themselves.

Reinventing the first meeting

We knew that a first meeting usually consisted of a ‘fact-find’, pulling out all the necessary information with all the excitement off pulling teeth. We explored how we could use digital to speed up this process, moving some of this to before the appointment and freeing up more time in the meeting.

We helped to identify a business case for creating a tool that could be used prior to an appointment and if necessary, during the appointment, as the way forward.

Introducing a new partnership to transform the experience

Customers told us that they felt their health and happiness were intrinsically linked to their money, and that both are made easier when their financial future is assured. Knowing that financial advisers would not be comfortable talking about areas outside their expertise, we partnered with Action For Happiness—the charity committed to building a happier and more caring society—to shape how we could talk about health and happiness with customers. Together we created 10 Keys to Happier Living with the financial knowledge from Old Mutual Wealth’s teams of financial experts.

Combining research previously carried out by Old Mutual Wealth with our experience mapping gave Old Mutual Health the confidence to create the Prosperity™ online tool.

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