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Implementing the Wealth Management Index: Tools to Build Your Practice and Measure Client Success by Ross Levin

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CHAPTER 8

Scoring the Wealth Management Index

When we originally created the Wealth Management Index (WMI), we thought that the scoring feature would be the area that resonated most with clients. It would allow the client and the planner to co-evaluate the work that was being performed, the progress being made, and ultimately, the success of the relationship. Implementing the scoring process could be cumbersome, but we felt the value outweighed the work.

Fast forward 15 years. While I have heard from many practitioners who like using the scoring, we have generally found for our complex, higher-net-worth clients, that the scoring often got in the way of the work. For most clients, we track progress on specific objectives which we have set based ...

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