digital investing: the last frontier
TRANSCRIPT
© 2014 Wells Fargo Advisors, LLC. All rights reserved..
Devon McConnell
Internal Use Only
Digital Investing – The Last Digital Frontier
© 2013 Wells Fargo Bank, N.A. All rights reserved. Confidential – Do Not Distribute.
This is a story about your money
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3
Advisors wear different hats and the landscape continues to change
stock market experts and info source
24 hour news cycle
funds developed
(ETFs)
autoinvestment
services
onlineplanning
tools
trusted advisorportfolio managers
Robo-adviors
44
Digitally this looks like…
For Internal Use Only
1990s 2000s 2010s
Hello World How can I help you?
Can I manage your life savings for you?
5
And then there’s this…
© 2013 Wells Fargo Bank, N.A. All rights reserved. Confidential – Do Not Distribute.
Life on the frontier
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It’s about trust, and it’s earned
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Emotional Design
Compelling
Valuable
UsableUser
CenteredDesign
EmotionalDesign
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The old ways of managing uncertainty won’t work
• Business cases• Consensus• Documentation• Task forces and
committees
2 - 3yearslater
waterfall development
© 2013 Wells Fargo Bank, N.A. All rights reserved. Confidential – Do Not Distribute.
Velocity = Speed + DirectionFor us that means Agile + Lean
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Requiring a new operating model
task completion KPIsSuccess measuresgeneralists specialistsTalentconsensus empowered teamDecision makingwaterfall agileMethodologyproject-based product-basedInvestment
From… To…
Our first step out looked like this…
13
Purchase
14
What we were hoping for was this…A
ppea
ling
Effe
ctiv
eP
leas
urab
leM
emor
able
Landing Page Questionnaire Recommendation
This feels great
I’m Interested
That was useful advice
I love it
Connected
Having funThis was awesome
I am fully engaged
I want to invest
I trust them
I feel confident
It’s usefulI know what to do next
I am learning Helpful
Informational
Credible
Approachable
Grabbed attention
Purchase
15
…what we found was this…A
ppea
ling
Effe
ctiv
eP
leas
urab
leM
emor
able
Credible
Simple, easy
No distractions on site
Helpful
Relief
I’m curious
I am motivated to do what’s next
Easy
Straightforward
Educational
Limited
Informational
Clear
Landing Page Questionnaire Recommendation
Friendly
Informational
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Drum roll…
There are few things more personal and emotional than money
Wells Fargo Advisors is the trade name used by two separate, registered broker dealers: Wells Fargo Advisors, LLC, and Wells Fargo Advisors Financial Network, LLC, Members SIPC, non-bank affiliates of Wells Fargo & Company.