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Client Data Collection - Tailwind vs Paper
 

The reason you collect client data is to understand your client's unique circumstances so you can make clear, concise, and effective recommendations.  At a glance, this may not seem like a time consuming process.  But when you consider all the steps necessary, both big and small, data collection and management usually takes hours for every case.  The less time you spend on this process, the more time you have for better things than collecting and managing data.  We've designed Tailwind to simplify and streamline the data collection process.  To save you time, and to make you look even more professional to your client. 


And it get's even easier for your client to provide updated information when it's time for annual reviews.  All of their previous data is pre-populated in the questionnaire.  Names, birthdates, addresses, assets, liabilities are all already filled in.  They simply update any changes and submit.  Tailwind keeps all of your client's previous questionnaires available for you as well.  You can compare them at the click of button. Again, time is saved for you and it's easier for your client.


Then you get to take advantage of the electronically collected data.  Everything is in the same place on every case.  Data summaries and reports are available immediately.  Your client's answers to the 10 Questions (MoneyTrax Step 1) are easily viewable to remind you of how best to serve your client.  The same with Insights Profiles. 


Processes are streamlined, integrated, and consistent so that your mind is free to focus on the really important things. 
 

 

Compare Tailwind and the old way:

VS.

   

   COLLECT
The Tailwind data collection process is similar to paper from the client's perspective.  Very simply, the client receives the questionnaire and fills it out.  Just like paper.  The first time only, it takes about the same amount of time as it would on paper. Client receives a paper questionnaire or a pdf document to print and fill out.
Client logs in to secure website and enters the requested data into the Tailwind appplication.

Client writes their information on paper.
The questionnaire expands to allow your client to add as many assets, properties, or liabilities as necessary.

The paper questionnaire is limited to the number of spaces in each section on the page.  If the client needs additional space, they have to attach the information separately.
When the client is finished, the client clicks the I'm Done button.  The questionnaire data is immediately viewable by the advisor.  Tailwind automatically generates status and confirmation emails to both the advisor and the client throughout the process. Client must return the paper questionnaire to the advisor by scanning and emailing, faxing, mailing, or returning by hand (either to the advisors office, or the advisor has to travel to the client to pick it up).
Annual review data collection is MUCH simpler for the client.  All previous data is pre-populated in the questionnaire.  Client just updates changes and click I'm Done.  Data is immediately viewable by the advisor. Complete annual review requires a new paper questionnaire to be filled out from scratch.  All required planning tasks must be completed again manually year after year.  The same hassles to return the questionnaire apply.
Insights Assesments are built into Tailwind.  Client experiences a seamless continuation of the data collection process.  Results of the assessment are automatically viewable in Tailwind. This process is too long and inconvenient to bother comparing.

 

   VERIFY

MoneyTrax Planner Questionnaire (Step 6) is built into Tailwind.  It is always available with a single mouse-click.

 Planner Questionnaire is a separate paper document that must be located and retrieved every time it is used.
Client notes throughout the case can be captured in one place: Tailwind.  10 Questions have their own section in each case, viewable in one mouse-click.  Same with Insight Profiles. Client notes are typically in multiple places: on the questionnaire, on a yellow pad, in the contact manager, on the 10 Questions form, etc.  10 Questions usually get filed, never to be reviewed again.  Insights Profiles aren't used at all.

 

   LEVERAGE
As soon as the Planner Questionnaire and data verification are complete, the advisor can immediately view data summaries and run reports without any manual reentry of data.  The data must be manually entered into various calculators, spreadsheets, and planning software to be summarized.
Case data and client notes are consolidated and searchable. Case data and client notes are typically scattered and not searchable.
Tailwind automatically creates vCards to update popular contact managers. Contact manager must be updated by hand.
Supporting materials (whether audio, video, document, or spreadsheet) are available in context throughout Tailwind. Supporting materials are scattered in various places: printed, cds, in various folders on your computer, and on the web.
Client data is preserved for simplified annual reviews.  The client saves times by updating the pre-populated Tailwind questionnaire.  Advisor doesn't have to re-enter data by hand. Client has to start from scratch on a new paper questionnaire, which takes just as long as the first time.  Advisor has to re-enter the data by hand.  Again.
For joint work, case data can be immediately transferred to another advisor in the consistent and familiar Tailwind format . Primary advisor needs to transfer case information, typically via email to collaborating advisor.  Collaborating advisor has to re-enter case information by hand.  


 

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