BELMONT, Mass. (PRWEB) February 17, 2021

Whealthcare Solutions, Inc., a software program firm devoted to serving to households and their monetary advisors extra successfully put together and plan for the challenges of longevity, has introduced a complete suite of Financial Wellness Scores. These new scores allow advisors to rapidly and simply measure their shoppers’ monetary well being, and are augmented by customized suggestions displaying the advisor the best way to assist shoppers enhance their scores.

“Nothing issues extra to shoppers than well being and wellness – a actuality underscored by the COVID-19 pandemic” mentioned Dr. Chris Heye, CEO of Whealthcare Solutions. “We’re excited to offer Financial Wellness Scores to our customers in help of the essential work they do getting ready shoppers for the monetary challenges of wellness and longevity.” The Financial Wellness Scores and academic content material are backed partly by insights from a landmark, two-year examine of ageing and monetary decision-making undertaken by the Massachusetts Common Hospital’sDivision of Outpatient Geriatric Psychiatry in collaboration with Dr. Heye.

The revolutionary, clinically-based monetary wellness scoring assessments seize a shopper’s practices, preferences, and ranges of preparation throughout a variety of key wellness metrics and generate actionable suggestions for enchancment. The distinctive assessments generate scores for:

  • Financial Resolution-Making – readiness to securely switch monetary decision-making authority to trusted people
  • Financial Administration – effectiveness in managing fundamental monetary affairs (monetary accounts, invoice pay, and spending)
  • Property Planning – preparedness to securely and easily switch wealth and private property to their heirs within the method intend
  • Financial Literacy – data and understanding of monetary merchandise and subjects, and danger of overconfidence
  • Financial Resolution-Making Capability (behavioral/cognitive/literacy/abstract) – vulnerability to sub-optimal monetary decision-making and/or exploitation and proof of decline in capability
  • Healthcare Administration & Prices – effectiveness in managing healthcare spending, healthcare price danger, and preparedness to show over healthcare decision-making
  • Plus, extra calculations of life expectancy, healthcare prices after age 65, long-term care prices, and qualitative assessments and steering round residing and driving transitions.

The monetary wellness scoring assessments allow advisors to raised have interaction with shoppers on actual life problems with biggest concern – well being and longevity. The assessments are offered in a brief and easy construction to make sure simple engagement by all prospects with accessibility options designed to help older shoppers. Most assessments require not more than 5 minutes to finish and are administered digitally. When the shopper is completed with an evaluation, the advisor can generate detailed experiences containing scores and suggestions. Advisors can use the output from the experiences to create customized, complete monetary wellness plans for any shopper. Every report is additional supplemented by multi-award-winning academic content material, ready by thought leaders in geriatrics, psychiatry, and advisor observe administration, and obtainable for digital supply to all shoppers.

“With 70 million Child Boomers now at a median age of 65, well being and longevity planning has by no means been extra essential. One in 4 shoppers age 65 plus is in danger for experiencing a point of cognitive impairment” mentioned Dr. Heye. “So monetary planning may be difficult, time consuming, and intimidating. Plus, many advisors lack ample coaching in well being and wellness-related subjects. We’ve made it simple for advisors to get on the coronary heart of monetary wellness with scores that present the shopper the place they stand, establish essential gaps, and assist provoke extra in-depth wellness planning discussions and actions.”

“Business analysis reveals that the common monetary advisor manages solely about half of a shopper’s belongings and competes with three to 5 different suppliers. The mix of the pandemic and the demographic wave of ageing shoppers is driving the cash in movement at a fee 350% increased than regular*. Advisors who haven’t got these conversations danger dropping the shoppers and their households to extra attentive advisors,” added Steve Gresham, CEO of The Execution Challenge, LLC, an business consulting agency and the creator of The New Advisor for Life.

“The revolutionary Financial Wellness Scores have been designed to assist reply a few of the most pressing questions I hear from shoppers every single day,” mentioned Jean Statler, CEO of the Alliance for Lifetime Earnings. “Individuals are anxious to deal with the problem of longevity, well being care prices and determination making as a part of their retirement plans. The Alliance is happy to have the ability to supply these superior new assets in response to that demand.”

*McKinsey examine, North American Wealth Administration: Cash in Movement, December 2020

About Whealthcare Solutions, Inc.

Whealthcare Solutions, the father or mother firm of Whealthcare Planning LLC, created the primary cloud-based well being, wellness, and longevity-focused shopper engagement utility for monetary advisors. The agency’s revolutionary, clinically-based monetary wellness scoring assessments seize and measure shopper practices, preferences, and ranges of preparation throughout a variety of key wellness metrics. The assessments are supported by complete coaching applications that empower advisors to have interaction extra confidently and comfortably with shoppers on well being and longevity-related subjects, as nicely distinctive shopper communications and advertising content material. Whealthcare Planning obtained the 2019 InvestmentNews Award for finest Academic Supplies and the 2019 Award for Thought Management from a expertise supplier. See extra at

Contact: Chris Heye, PhD
[email protected]

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