Trail supports the information gathering stage of Kiwisaver advice by providing you with an all-in-one Fact Find plus Risk Profile for your clients to go through!
This process is quick and efficient - our fastest Fact Find to date 🚀 You will get to know the basics of your client along with some idea of their risk appetite 👍
In this article you will learn:
What does the KiwiSaver Fact Find look like?
How do I read the Risk Profile results?
How can I view this information in Trail?
What does the KiwiSaver Fact Find look like?
The KiwiSaver Fact Find was designed to work seamlessly with the current Trail Mortgage & Insurance Fact Finds. What's unique about the KiwiSaver one is that if your client has previously worked with you, most of their information will be automatically filled out for them to review. This significantly cuts down on the time it would take for them to gather all of their info, as it will already be ready to go 👍
Filling out the Fact Find
The first page your client will be taken to is the Introduction. This page introduces the importance of choosing the right KiwiSaver provider and can be completely customised in your KiwiSaver Settings:
🚀 TRAIL PRO-TIP 🚀 You can add in images and videos in
the introduction page to elevate your clients' experience!
Next, they will be asked to fill out some information about themselves. If they already have a contact in your Trail book, this information will auto-fill to each field:
If your client has not used Trail before, that's okay! They can add in all of their information for the first time too.
Your client will then be asked about their Goals for their KiwiSaver and if they have an existing KiwiSaver fund:
The Risk Appetite Quiz & Risk Profile
Next, your client will go through a short quiz designed to bring our their preferences when it comes to investing. These questions are meant to engage your client and really get them thinking about how they prefer their money to be invested.
At the bottom, there is a separate section to ensure your clients' ethical concerns are captured if they have any. They may use the sliders under each concern to indicate whether or not they are comfortable for their money to be invested in that way.
🚀 TRAIL PRO-TIP 🚀 Your clients can discuss any further concerns in the text box below the available options - you'll be able to see this as their adviser!
On the final page, your client will review the result they got in the Fact Find. This gives you a great indication of what kind of fund they would prefer 👍
Understanding Trail's Risk Profile Results
Why is this designed in this way?
The Risk Profile is designed to be client-friendly in its use of terminology and explanations; we cannot assume that your client knows a lot about investments or any provider terminology. We chose to deviate from the industry standard terms to make sure there is no confusion that the Risk Profile result is in any way direct 'financial advice' 👍
What is this aimed to do?
The main goal of the Risk Profile is both:
For the clients is to give them an idea of what their comfort level is with risk
For you, as their adviser to have an idea of your client's risk appetite in this initial Fact Find stage and consider this as you do research.
Ultimately you will be choosing the funds you believe is best for your client's circumstances based on your expertise as an adviser 🌱
Passive Preserver
The world of investments is a bit stressful for you, and your main priority is making sure your money is protected. You might not be interested in financial markets, or maybe you're interested but don't know where to start - it all feels a little overwhelming. Any drop in your balance would make you feel uncomfortable, and it's because of this that you stay away from risky investments. In your opinion it's better to stay put somewhere safe than risk making the wrong decision and losing money.
This Risk Profile best aligns with Defensive or Conservative funds.
Friendly Follower
You’ve never been particularly interested in the investment world, but that doesn’t mean you don’t want to make the right decisions about your money! You get most of your knowledge about investing online, and you like to ask the opinions of friends, family or trusted people before making a decision. When it comes to investments, you’d rather follow what other people are doing than do all of the research yourself. You don’t mind taking on some risk if it is going to pay off in the long run, but seeing your balance decrease would still make you a bit nervous.
This Risk Profile best aligns with Conservative or Balanced funds.
Independent Individualist
You've got your finger on the pulse of the financial industry, and aren't afraid of taking risks when it comes to investing your money. You don't consider yourself a follower - you'd rather forge your own independent path ahead of the pack and trust your gut instinct. You're willing to take risks and act decisively to get what you want, and are comfortable riding out the ups and downs of the market to get the best long-term gain for your money.
This Risk Profile best aligns with Balanced or Growth funds.
Active Accumulator
You like to play a high risk, high reward game with your investments, and want to maximise your wealth. You're entrepreneurial and knowledgeable about the industry, and this means you're able to make decisions about your investments that put you ahead of the curve. You like to be in control of the process and make choices based on your own research. When others are withdrawing from a dropping fund, you might be investing more, taking advantage of the low prices for the next high.
This Risk Profile best aligns with Growth or Aggressive funds.
How can I view this Information in Trail?
Much like the mortgage and insurance Fact Finds, the information submitted through the client Fact Find is automatically populated into the client's Position page on their profile. The Position reflects their submitted information across all Fact Finds completed and then populates what's needed into the application.
To view the information submitted for this particular application, click into the opportunity and access each section like this:
It's best practice to go through each of the Fact Find and Needs Analysis sections to confirm the information within by clicking the checkmark to the right. Take extra caution here to ensure your client's details appear as you expect them to.
Ready to move on? Let's check out How to View & Recommend KiwiSaver Funds 🎉