Cary Carbonaro of United Capital explains in the “ADVICE ALPHA: Re-defining value — and success — for an advice-centric era” research how the process at her firm involves using behavioral finance tools to help clients assess their financial goals and then tying those goals to a numeric scorecard.
She said that as a client financial and non-monetary goals change, the changes are tracked and measured. So if one client goal was to spend more time with family and friends but the client worked seven days a week instead, the scorecard would show that they came up short on that goal.
In essence, she said, her firm helps clients define measures of success, financial or not, which become the firm’s deliverables.
