My thesis is about:
To what degree does the proficiency in financial literacy among prospective clients shape their choice to participate in wealth management services, and what strategies can wealth management firms employ to attract clients in response to this influence?
I have the intro, literature review and methodology, now I need the results and discussion. I have a clear structure of what I want:
What needs to be done:
1- Development of Personas: As part of the research methodology, personas of the primary and secondary target markets.
This should represent the ideal client for the firm—someone with a high proficiency in financial literacy. This persona will help you understand how well-informed clients make decisions regarding wealth management services and what they value most in these services.
This should represent a client with low financial literacy. This persona will help you explore the barriers and challenges that such clients face and what strategies wealth management firms can employ to attract and assist them.
2- Customer Journey Mapping: Additionally, the research will include the development of customer journey maps to visualize the interactions and experiences of clients with investment management services.
map the journey for a customer with low financial literacy. This will highlight specific pain points, misunderstandings, or barriers these clients face, allowing you to propose targeted strategies to improve their experience and engagement.
3- Explore the varied strategies that wealth management firms currently utilize to tackle the challenges presented by clients with varying levels of financial literacy. (This will be based on the questionnaire made with advisors + secondary research)
4- In sequence, propose effective strategies for wealth management firms.
Structure:
Results
Descriptive statistics and Pearson correlation coefficients.
Explore the varied strategies that wealth management firms currently utilize to tackle the challenges presented by clients with varying levels of financial literacy. (This will be based on the questionnaire made with advisors + secondary research)
Discussion
Present developed personas and customer journey maps here for deeper insights.
Propose effective strategies for wealth management firms for the acquisition process.
