How Elements Data Gathering Is Different

Data Gathering in Traditional Tools:

Traditional tools try to expand their data models to collect as much client information as possible, such as tax returns, investment statements, spending habits, and more. The advisor then chooses the most relevant topics to discuss with the client based on this comprehensive data.

Challenges with Traditional Tools:

Despite their comprehensive nature, traditional tools might suffer from inaccuracies if even a single data point is incorrect. The process is time-consuming, often taking 2-4 hours just in the planning software.

Elements' Approach:

Elements simplifies this process by selectively gathering the most crucial data to provide a comprehensive view of a client's financial situation. This is presented in a clear scorecard format, enabling quicker and more consistent analysis.

Binary vs. Organic Data Gathering: 

Binary Data Gathering: Like an elevator, it requires all or nothing from the client at once.
Organic Data Gathering: Like taking stairs, it involves gradual collection of information, making the process less daunting for clients.

Elements' Organic Approach: Elements uses an organic data gathering process. This approach does not require all information at once but builds up the data over time. This method helps in populating the scorecard progressively, aiding in client engagement and understanding.

Related to

• Getting Started