Part 2: How does RediNest work?

By Dave Faulkner

In Part 1, we looked at building a client acquisition process with RediNest. But what is RediNest, and how does it actually work?

RediNest is a client-facing retirement income calculator that anyone can use to calculate their potential retirement income and compare it to others. After calculating their potential retirement income, prospects will then have the option to connect with a RazorPlan™ advisor to further analyze their situation.

Prospects and clients can access RediNest in one of 2 ways:

  1. The public website which uses the RediNest brand and is not specific to any one advisor.
  2. The custom advisor-branded version of RediNest that is specific and branded to one RazorPlan™ advisor.

The RediNest user interface uses the RazorPlan™ calculation engine to output the RediNest results. This means that the results provided by RediNest will always be consistent with the results you will get when you meet with the client for further planning. This helps to add credibility to the planning process.

In the public version, RediNest builds a client profile that includes the prospect’s Life Stage, Financial Knowledge and Investment History along with their top financial planning priorities. This information is then used to match the prospect with advisors who have chosen to be listed on the public website. Using our proprietary algorithm, the prospect’s profile is compared to the ideal client profile of each advisor listed in the selected geographical area to produce a “Match %”.

Prospects are then free to review the qualifications of any advisor listed regardless of Match %, before selecting one advisor to connect with. In the advisor-branded version RediNest promotes only that advisor’s services to the prospect, and does not display the Match %.

When a prospect connects with an advisor, their account is linked to the selected advisor who can then access the information using their RazorPlan™ account. The advisor will also receive an email outlining the details of the file and a PDF copy of the Advisor Report. The advisor report will contain results of the file as well as the data entered.

My RediNest Advisor Dashboard RazorPlan

Setting up your custom advisor-branded RediNest is easy. Simply log into RazorPlan™ and click on the “RediNest” link. Here you can create your Advisor Profile and your “My RediNest” branding. Once set up, you are ready to use your RediNest landing page as part of your Client Acquisition Process.

NOTE: It can take up to 15 minutes to implement your changes on the live system.

Part 3: How to use RediNest to grow your practice

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