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Breaking Barriers in Financial Planning: How GoalsMapper Transformed the Advisory Landscape


Breaking Barriers in Financial Planning: How GoalsMapper Transformed the Advisory Landscape

GoalsMapper used its cloud-based platform to support more than 80,000 financial advisors.


GoalsMapper, a Singapore-based fintech software-as-a-service firm, said that the pen-and-paper era for financial advisors and financial consultants should be over and done with as traditional methods lack the accuracy to cater to a client’s needs.


This was based on the experience of GoalsMapper's co-founder Dato’ Wayne Chen. 14 years ago, Wayne was an independent financial advisor. During those times when he was offering his services to clients, he found it difficult to prepare materials that would accurately capture a client’s financial snapshot and instead found himself relying on a standardised presentation and script


“Due to the lack of clarity of a client’s situation, the product that I recommend to them during a meeting might not be the best fit for them. What I have observed is that I will require more meetings with a client before getting the right solutions to them as I will require more time on the side to prepare calculations and materials in order to help clients visualise the possibilities in the solutions,” Wayne explained during a quick chat with Singapore Business Review.


He quickly identified the problem: a lack of real-time digital tools. This was the spark that motivated him to build GoalsMapper.


The GoalsMapper platform

Addressing the longstanding challenges faced by financial advisors, GoalsMapper has unveiled a trio of cutting-edge products, poised to revolutionize the financial planning landscape for its ever-growing user base of more than 80,000 clients. These game-changing offerings, named GM Planner, GM Brand, and GM Connect, are set to transform the way financial advisors interact with their clients.


The first jewel in their crown is GM Planner, a powerful financial planning tool that empowers clients to envision their financial futures like never before. Leveraging interactive charts and projections, users can stress test and explore various scenarios to chart a personalized path to their financial goals. This simulation capability grants financial advisors unprecedented insight into helping their clients achieve success.


Wayne, the visionary behind GoalsMapper, explains, "GM Planner allows financial providers to offer truly personalized advisory services, accounting for each client's unique aspirations and life situations."


Next up is GM Brand, a remarkable platform tailored specifically for financial advisors to bolster their professional image and online presence effortlessly. By harnessing the platform's intuitive interface, financial advisors can create bespoke websites with just a few clicks, elevating their brand and enhancing credibility within the market.


"Our aim with GM Brand is to empower financial advisors to stand out in a competitive landscape and establish a distinct identity that resonates with their clientele," Wayne added.


Completing the triumvirate is GM Connect, an ingenious solution to streamline communication between financial advisors and their clients. By automating post-sales engagements, such as premium reminders and policy reviews, GM Connect transforms into an indispensable task manager. It offers seamless storage of vital client notes, enables timely reminders for premium dates, and fosters continuous communication to ensure lasting relationships.


But that's not all! GoalsMapper's latest innovation, GM Rewards, adds an exciting twist to the mix. Inspired by an engaging focus group, the company sought to tackle the challenge of expressing gratitude to clients on special occasions, especially for those financial advisors catering to large client rosters.


Enter GM Rewards, an ingenious feature that allows financial advisors to effortlessly bestow thoughtful gifts upon their valued clients. With a seamless process, advisors can collate gifting orders, customize tokens of appreciation for each individual, and coordinate smooth delivery—all at their fingertips.


Wayne passionately elaborated, "We believe showing appreciation to clients should be both meaningful and effortless. With GM Rewards, we've made expressing gratitude a delightful experience for advisors and clients alike."


GoalsMapper's unwavering commitment to innovation and client-centric solutions has resulted in a lineup of products that promise to redefine the financial advisory landscape. By providing invaluable tools to empower financial advisors and enrich their relationships with clients, GoalsMapper is propelling the industry into a thrilling new era. The recent launch of GM Rewards reflects their dedication to continually gathering user insights and enhancing their already impressive offerings. Exciting times lie ahead for financial advisors and their clients as GoalsMapper reshapes the future of financial planning!


Expansion

Every year, since its inception, GoalsMapper expanded its reach from Malaysia, Thailand, and the Philippines. Most recently, it landed in Indonesia. Wayne said they see a lot of potential for its Indonesian expansion because of its low insurance penetration rate at 3.23% and a financial literacy rate of 15.8% in the underserved market.


“There is an urgent need to close the financial literacy gap for normal everyday people and the financial consultants. We see a potential 600,000 life insurance agents that the platform could support,” Wayne added.


 

Written by: GoalsMapper

GoalsMapper is part of our Sustainable Cities Program. In Plug and Play APAC, we bring together the private and public sectors to build sustainable and resilient cities. Our Sustainable Cities program engages startups worldwide in areas such as Solar, Enterprise Tech, Real Estate & Construction Tech, fostering innovation and digital transformation within organizations. Join our platform today and be part of the transformative journey of turning visionary ideas into reality.

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