During their work in the financial services industry, David Hosey and Kate Kim became frustrated by the impersonal relationships between financial advisors and their clients. They craved a more personal experience where advisors could have information at their fingertips to truly ‘know’ their clients and guide them to make better investing decisions. When they couldn’t find anything out there that fit the bill, they decided to build it themselves.
Betterworth is an AI-powered platform for financial institutions and advisors and was created to accelerate the building of trust between financial advisors and their clients. It helps advisors create long-term, profitable relationships by providing a comprehensive view of their client’s interests, lifestyle, goals and financial history. This allows them to anticipate the client’s wealth management needs better and recommend the right financial solutions at exactly the right time.
To develop their platform, Betterworth used open data from Statistics Canada and the Canadian Mortgage and Housing Corporation. With this data, they determined financial behavior, personality and risk profiles for their clients. It also helped identify current economic trends.
Seeking to go beyond traditional Know-Your-Client (KYC) software, Betterworth has used this data to provide a multi-level view based on both financial and non-financial data points, with a client’s profile that is enriched with every decision.
Betterworth can help deepen trust between financial advisors and their clients with client profiles that provide a complete and clear picture of the client’s interests, lifestyle, goals and financial history to better anticipate the wealth management needs and recommend the right financial solution at exactly the right time.
Originally posted on: https://open.canada.ca/en/story/betterworth