Monitor - How to Use Elements with Your Ongoing Service
Below is a quick start guide that explains exactly where elements can fit into your process.
After you have onboarded a client and assessed their financial health, you’ll use Elements to monitor their financial health over time and ensure they are on track to meet their goals.
In your initial onboarding process, you should have also set target scores for each Element. If you haven’t, take a minute to review how to do so here. (link to target scores page) Setting target scores for each of your clients helps them know exactly what they are working towards and better helps them to know if they are making progress.
Quarterly Check-Ins
Elements makes it easy to implement quarterly check-ins. Each quarter the system will automatically reach out to your clients to ask for updated financial information. This happens for each of your Active clients and shows how they’ve progressed over the prior three months.
This process makes it a great time to check their scorecard to make sure nothing is out of place and they have accomplished the action items assigned to them. This review can be sent as a short video to the client or can be done in a meeting. This is also a great time to review their target range scores to make sure those still make sense for the client.
- If they have completed their action items, communicate with them via email or in app messaging.
- Use templated emails within insights to make reaching out easier.
Sometimes you check on everything and the client is on track and progressing well and there is nothing to reach out about. At a minimum, send them an email letting them know you’ve checked on everything and things look great. Let them know the work you are doing for them, even if you have no reason to meet with them.
Monthly Touch Points
If you want to implement monthly touch points, Elements offers two ways to do so using our monthly service calendar.
- You can send a personalized email to clients with a focus on a specific Element each month.
- You can send out one email (Similar to a newsletter) to all clients each month. For example, create a generic email about Liquid Term sharing why it’s important, where to find it in the app, and general guidelines for what a “healthy” score should be.
Example of Monthly Elements Touch Points
January - Burn rate
February - Savings rate
March - Liquid term
April - Debt rate
May - Insurance rate
June - Tax rate
July - Real Estate term
August - Qualified term
September - Equity rate
October - Business term
November - Total term
December - Reassess Target Scores
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