One fintech company is so confident it can help financial advisors convert prospects into clients, it’s putting its money where its mouth is.
Elements provides a mobile Scorecard app that evaluates a prospect’s financial data and provides an evaluation score across 12 measurements such as liquidity, savings, tax and debt ratio. By showing prospects where they are strong and where they could improve, the app gives an advisors an easy way to demonstrate the value they could provide, said Elements CEO Reese Harper.
The firm also provides a 90-day program called the Elements Growth Method to introduce advisors to the software and how it can be used to convert prospects. If an advisor fails to add at least one new client during the course of the 90-day program, Elements will offer a full refund.
“A lot of prospects get stuck in the bottom or middle of the funnel for a long time,” Reese said, adding that the Growth Method was developed by implementing Elements at Dentist Advisors, the registered investment advisory he founded that manages $314 million in client assets, according to its most recent Form ADV.
“From my experience, this is primarily because the prospect hasn’t truly understood the value that they can get from an advisor,” Reese said. “What we’ve seen is that when advisors just show the prospective client how they add value using the prospect’s data rather than just talking about the services in conceptual terms, they build trust way faster. They’re not just imagining it, they’re seeing it in action.”
Brandon Galici, an advisor in San Juan Capistrano, California, said he had 10 people download the app and 40% ended up completing the onboarding process
“It was astonishing,” Galici said in a statement. “Elements’ tools enable me to demonstrate the tangible value I bring to my clients, which is of growing importance as our industry evolves from investment selection to advice-based planning.”
Elements launched in May 2022 and is now used by 400 wealth management firms — up from 260 in January — serving nearly 8,000 clients. In addition to Scorecard and the Growth Method, Elements provides one-page financial plans designed to make planning a more ongoing and interactive process between advisors and clients.
In January, the fintech company secured a $5 million seed extension round led by Flyover Capital.
Futures indicate stocks will build on Tuesday's rally.
Cost of living still tops concerns about negative impacts on personal finances
Financial advisors remain vital allies even as DIY investing grows
A trade deal would mean significant cut in tariffs but 'it wont be zero'.
Inflation, economic risk is greater than previously thought.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
