WealthCare measures financial health and wellness for an organization’s customers by evaluating financial behaviours and attitudes across four key dimensions. This approach provides financial institutions with the intelligence they need to engage customers in relevant conversations and help them manage their financial goals to meet their financial wellness profile. WealthCare is built by integrating over 100 data variables across 10 data sources, including financial holdings, spending patterns, social values and attitudes related to financial health in Canada.
WealthCare provides an overall indicator of financial wellness by age to help identify the challenges and opportunities customers are likely to experience and to highlight the differences in wellness scores by lifestage.
WealthCare’s overall score is comprised of four component grades:
Leverage: Evaluates whether your customers have a balanced relationship between assets and debt
Spending: Determines the likelihood of your customers living within their means
Planning: Assesses whether households are making their financial future a priority
Financial Acumen: Analyzes the degree to which households self-invest, seek advice or hold a diversity of investments
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