Onboarding project | FinAtoZ.com

FinAtoz is a Bangalore-based investment advisor firm registered with SEBI. They help clients plan and manage their investments based on individual goals and risk tolerance. They use technology to provide a user-friendly platform for clients to track their financial journey.

Job: Grow my wealth and achieve financial security through effective financial planning.

Functional:

Leverage expertise to create a personalized financial plan.
Invest based on risk tolerance and goals.
Implement a diversified portfolio to manage risk.
Track and monitor investment performance.

Personal:

Gain peace of mind about my financial future.
Feel confident and empowered in making financial decisions.
Reduce stress and anxiety surrounding finances.

Financial:

Maximize returns on investments within my risk tolerance.
Achieve financial independence for my desired lifestyle.

Social:

Project financial savviness and knowledge.
Feel in control and secure about my financial future.
Stay informed about current investment trends.

what I have found about financial planning and investment management fees in India.

Financial Planning: ₹12,000 seems to be within the range for a comprehensive financial plan in India. This could vary depending on the complexity of the plan and the experience of the advisor.
Investment Management Fee: 1.2% of Assets Under Management (AUM) is on the higher end for investment management fees in India. However, it can be appropriate for some wealth management services, especially for those with a high net worth.

Profile	Why Sign Up (Job to be Done)	Desired Outcomes	Financial Planning	Investment Management Fees
Mid-Career Professional (Ambitious Achiever)	Overwhelmed by managing finances, needs plan for retirement, children's education & debt.	Maximize wealth for retirement & children's education, manage current financial obligations.	₹12,000 - ₹18,000	1.0% - 1.25% AUM (lower due to younger age)
Mid-Career Professional (Investment Enthusiast)	Wants to optimize portfolio & grow wealth. Lacks in-depth knowledge & needs guidance for market volatility.	Optimize investment portfolio for long-term growth, navigate market volatility.	₹8,000 - ₹12,000	Flat fee or tiered based on portfolio size
Retired Person (Security Seeker)	Concerned about rising medical costs & securing financial future. Needs help managing savings & income.	Secure a regular income stream, manage healthcare costs, preserve capital throughout retirement.	₹6,000 - ₹10,000	Fixed fee for ongoing services
Retired Person (Active Adventurer)	Needs help managing retirement savings to support active lifestyle & travel, while securing financial stability.	Manage retirement savings for active lifestyle & travel, secure financial stability throughout retirement.	₹8,000 - ₹12,000	Tiered fee based on risk & goals
Retired Person (Legacy Builder)	Wants to ensure wealth is passed on & needs help with estate planning & tax optimization.	Secure income stream, plan for long-term care, create tax-efficient estate plan for wealth transfer.	₹15,000 - ₹20,000 (complex plan)	1.25% - 1.5% AUM (complex needs)

Website

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Landing page:

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Website & Landing Page:

Showcasing Outcomes: We showcase a video at the beginning that visually depicts positive financial outcomes you might desire (comfortable retirement, child's education).
Introducing Finatoz: We explain what we do with clear headings and concise descriptions. Here's what we offer:
- Personalized Financial Plans: Certified advisors create financial plans tailored to your unique goals.
- Investment Management: We manage your investments based on your risk tolerance to help you grow your wealth.
- Periodic Reviews: We regularly review your financial plan to keep you on track towards achieving your goals.
Building Trust: We feature testimonials from satisfied customers and showcase logos of industry partners to establish our credibility.
Taking the First Step: We make it easy to get started with a prominent call to action (CTA) on both the website and landing page (e.g., "Get Started," "Schedule a Free Consultation").

Customer Journey (Onboarding Steps):

Webform Submission: After completing our online form, you'll receive a detailed email explaining our services and addressing potential questions.
Personalized Approach: We offer two options:
- Phone Call: A Finatoz representative will call you to answer basic questions and schedule an introductory meeting.
- Online Questionnaire: Complete a questionnaire to gather your information and preferences. This allows us to personalize your introductory meeting with the advisor.
Introductory Meeting with Advisor (Free): During this meeting, the advisor will:
- Discuss your specific financial goals and needs.
- Show you a sample financial plan to demonstrate the tangible outcome of our service.
- Address any questions or doubts you might have.
- Provide a first-level opinion on whether our service might be a good fit for you.
Decision and Subscription: If you're convinced, you can subscribe to our financial planning services.

Finatoz Onboarding Teardown: User Journey Analysis

Does this page/screen help get my job done (JTBD)?

Partially: The website and landing page content can spark the user's JTBD (e.g., "Get a financial plan"). However, the post-signup steps don't directly guide users towards creating a plan.

How am I feeling for onboarding for this product?

Positive first impression: The website content builds trust and credibility, potentially creating optimism about the service.
Potential friction: The phone call and introductory meeting could introduce friction for users who prefer a self-directed approach.

What part of the onboarding is giving me that Aha moment?

Sample financial plan: Showcasing a sample financial plan during the advisor meeting can be an "Aha Moment" by providing a tangible outcome.
Free consultation: Offering a free introductory meeting reduces user risk and allows them to see the value proposition before subscribing.

What screens would you add/replace/remove and why?

Consider an online questionnaire: In addition to the phone call, an online questionnaire after signup could gather user information and preferences. This streamlines the introductory meeting and personalizes the experience.
Optional: Planning tool access: Provide access to a basic financial planning tool after signup. This allows users to experiment and build excitement before the advisor meeting.

Evaluate your onboarding on the cognitive biases:

Loss Aversion: The automated emails could highlight the potential negative consequences of not having a financial plan, motivating users to subscribe.

Activation:

Metric: Attending the Introductory Meeting with Advisor within 7 days of signup.

Reasoning: The introductory meeting is a crucial step where users learn more about the service and its value proposition. Attending within 7 days signifies strong initial interest and a desire to move forward.

Metric: Completing the Sample Financial Plan Review during the Introductory Meeting.

Reasoning: Reviewing the sample plan provides users with a tangible outcome of the service and helps them visualize how it could benefit them. Completion indicates active participation and potential for conversion.

Metric: Subscribing to Finatoz's Financial Planning Service within 14 days of the Introductory Meeting.

Reasoning: Subscribing is the ultimate goal of the activation funnel. Tracking conversions within 14 days provides a clear picture of how effectively the onboarding process drives immediate signups.

Metric: Activating Investment Management Features within 30 days of subscribing.

Reasoning: Investment management is a core component of Finatoz's service. Activating these features within 30 days indicates user trust and a desire to take full advantage of the service's benefits.