eMoney Advisor Announces Research Findings Focused on Client Experience During Tenth Summit


New research highlights the impact both financial psychology and technology, specifically client portals, can have on client outcomes

RADNOR, Pa., Oct. 16, 2023 /PRNewswire/ —  eMoney Advisor (eMoney), a leading provider of technology solutions and services that help people talk about money, today revealed new research during the first day of the 2023 eMoney Summit, the industry’s premier event for planning-led financial professionals, which is being held virtually through Oct. 18, 2023.

eMoney CEO Susan McKenna kicked off the tenth Summit with opening remarks to an audience of more than 1,600 virtual participants – the most highly attended Summit to date. Head of Financial Planning Matt Schulte and Dr. Emily Koochel, manager of financial wellness, then joined the virtual stage to present highlights of new proprietary research, which identifies what clients value and how to achieve better outcomes by going “Beyond the Plan” –this year’s theme.

“You are all smart, capable professionals who know how to deliver the appropriate level of advice to meet the unique needs of all your clients. The challenge is getting your clients’ behaviors in alignment with your output. But how? This is what it means to go beyond the plan,” said Schulte.

The research captured insights from both advisors and end-clients, focusing on the application of financial psychology and the use of technology, particularly client portals, on planning outcomes. The greatest impact on overall client satisfaction, client loyalty, and client referrals is seen when advisors implement both financial psychology and technology. A summary is below:


  • Of the financial psychology actions measured, adding in just three can increase client satisfaction greatly, but with each subsequent action added there is a steady and significant increase in overall satisfaction, moving from 12% client satisfaction if no actions are taken to 89% satisfaction if all are taken. Actions that most positively impact client satisfaction and reduce financial anxiety:
    • Helps identify meaningful personal and financial goals and objectives
    • Tries to understand values and priorities before delivering financial advice
    • Always considers what the client values most in their life
    • Makes an effort to learn about the client’s money behaviors and attitudes
    • Communicates recommendations in terms that are understandable1
  • Opportunity for improvement
    • When asked about the frequency with which their advisors are taking these actions, end clients indicated that it averages to less than 50% of the time.1


  •  45% of clients—almost half—struggle with a lack of motivation.2
  •  67% of the clients of tech forward advisors said their financial advisor motivates them to achieve their financial planning goals.1

Referrals and Loyalty

  •  End-clients who work with FinPsych forward advisors—who incorporate 8 or more financial psychology actions into their practice— average nearly 2.5x the referrals per year of FinPsych averse advisors.1
  •  56% of end clients who actively use a client portal make referrals to their advisor 2x more per year.1
  •  70% demonstrated their loyalty by indicating they intend to maintain a relationship with their advisor.1

“Time and again, our study results showed that advisors who are not including either financial psychology or technology in their practices can improve their outcomes just by adding in one, but the power is truly in utilizing both,” said Koochel. “This is where we see the best outcomes and the best experience for both the advisor and the client.”

Following the presentation of research, Head of Product Tom Sullivan was joined by Chad Porche, senior vice president of product management, and Ricky Illigasch, vice president of product management, to detail key enhancements and product roadmap items that were directly informed by eMoney’s research.

The 2023 eMoney Summit is proudly sponsored by Fidelity Institutional, Allianz, Finteract, MaxMyInterest, and Nationwide.

To view the Summit agenda, please visit emoneyadvisor.com/summit/agenda/.

1eMoney Beyond the Plan Research Study, June 2023, n=1,507
2eMoney Leading with Planning Research, May 2022, Advisors n=360

About eMoney Advisor, LLC  
eMoney Advisor, LLC (“eMoney”) provides technology solutions and services that help people talk about money. Rooted in holistic financial planning, eMoney solutions strengthen client relationships, streamline business operations, enhance business development, and drive overall growth. More than 106,000 financial professionals across firms of all sizes use the eMoney platform to serve more than 5.8 million households throughout the U.S. For more information, please visit: emoneyadvisor.com.  

SOURCE eMoney Advisor


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