A new study from DataPoints says that how people behave with regard to financial management can tip off advisors as to which kind of client (or potential client) they're dealing with.
The behavior of people with high wealth potential ("an indicator of one's propensity to build and maintain wealth over time"), said DataPoints in the study, not only differs from how those with low wealth potential behave, but can be a tipoff to other factors about those people's behavior toward money—behavior that can help financial services firms to better select and focus on clients likely to develop or maintain wealth.
The study, "Financial Behaviors & Wealth Potential: Demonstrating the Value of Predictive Assessments for Financial Services," lays out a number of ways to tell whether clients have high or low potential to develop wealth, even if they are not currently well off.
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