Spending Patterns

Predicting Spending Patterns with Behavioral Finance:

Most advisors will agree that managing spending patterns, and not investments, is the key for most investors to achieve their financial goals. Traditionally, advisors have created financial plans without true insights into a client’s spending patterns, this changes with the DNA behavioral finance insights into an individual’s spending habits.

We have adopted the belief that it is the client’s complete financial personality (their “Financial DNA”) that is a significant driver of wealth creation, with a key piece being a client’s spending patterns.

From the DNA Blog:

We believe that having a high ratio of spending to disposable income is the biggest destroyer of wealth. If a client spends all of their income then, unless there is a windfall event (bonus, inheritance, business sale), there is nothing left to invest…

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The best way to experience DNA, is to try it yourself. Are you a saver or a spender? See if we can predict your style.

Financial Behavior Report Example in iPad

Spending Pattern Insights:

Financial DNA outlines specific financial planning management insights that measure the financial organization of investors, and their tendencies to save money and follow budgets.

Managing Spending Patterns with Couples:

Whether just one spouse (or both) are high spenders, the Financial Behavior scores along with the Financial DNA Comparison tools serve as a catalyst for powerful discussions with clients before a financial plan is created.

Financial DNA helps Advisors increase confidence that they can engage their couple clients on their terms with objective data. This important data can ensure the Advisor is framing questions to ensure financial compatibility and improve financial and life decisions.

Financial DNA Comparison Report