BodesWell provides self-service financial planning software so financial institutions can extend the benefits of planning to the millions of people who don’t already have an advisor.
Over 85 million American households have no one to help them with their most important financial decisions. Despite the industry's best efforts, Americans controlling almost $16 trillion in investable assets don’t work with human financial planners.
Financial planning is fundamentally broken for most Americans. Only 15% of households have a financial advisor (for non-tax work) and research shows that a majority of those with financial planners are not satisfied. Basic investment knowledge of asset allocation strategies, the rise of structured 401k plans, the availability of low-fee index funds, and the like, have empowered people to have more control and opportunities to manage their personal capital. However, financial advisors can not effectively scale their personalized time spent with families. These households need less tactical advice and more strategic guidance on how to achieve their life goals.
An on-demand, always ready “financial advisor” can now be embodied through software and clever design, leveraging advanced technologies in predictive modeling. This is especially true as families deal with the uncertainties derived from the COVID-19 pandemic and the resulting economic crisis. Financial institutions need effective tools to allow their customers to better map out their future. The company’s mission is to help people create the future they want and do so by providing individualized financial planning. BodesWell combines goal-based and cash-flow-based financial planning models with impactful suggestions and scenario-building delivered through a simple user-centric product.