Lumiant has incorporated the 8 Dimensions of Wellbeing into the Your Life module, a survey tool that helps you to lay the groundwork for the Values conversation.
The 8 Dimensions of Wellbeing are factors that can affect your clients’ overall quality of life, and by delving into them, you will have a greater understanding of your clients’ values and subsequent needs on a wholistic level. This approach follows the idea that all dimensions of wellbeing are inter-connected and by taking the Your Life survey, areas that need change or improvement will be highlighted.
By understanding your clients 8 Dimensions of Wellbeing and incorporating this into your value proposition, we believe both the advice offered by you and the quality of life experienced by your clients, will be enhanced.
What does wellbeing look like?
Lumiant’s 8 Dimension approach to wellbeing incorporates the physical, spiritual, social, emotional, intellectual, occupational, environmental and financial aspects of your clients’ life. Overall wellbeing can look like a healthy approach to living, purposeful work, good relationships, eating well and a work-life balance, although it can be different to everyone; this is where the Your Life survey can be a great resource.
For your clients, struggles with the Physical Dimension of Wellbeing can sound like ‘I want to avoid being a burden on my family’ or ‘I want to become more active and healthier’.
Delving deeper, physical wellbeing for your clients can also be the incorporation of daily routines and healthy habits, good nutrition, regular exercise and access to healthcare.
By testing your clients scores of physical wellbeing and gaging how important this dimension is to them, you will be able to get them closer to living their best life.
The intellectual dimension of wellbeing discovers how important your client views learning and the application of knowledge, as well as their engagement with intellectually stimulating and creative activities. This could also present itself in their relationship with current affairs, hobbies to increase their skillset and how much their value intellectual discussions.
In this dimension of wellbeing, clients may desire to master new skills or knowledge, or educate loved ones.
For your clients, their values within the environmental dimension may leave them wishing to live in a better place or protect the environment; which you can help them to achieve through your enhanced advice offerings with Lumiant. Environmental wellbeing encompasses feeling physically safe and clean, and on a more basic level, having access to clean air, food and water. As well as this, energy conservation, recycling and setting aside time to enjoy in nature can be valuable to your clients in this dimension of wellbeing.
Spiritual wellbeing for clients involves attending to their sense of purpose in life, as well as engaging in meaningful work and having balance in their life. For clients that place greater value on the spiritual aspects of their life, they may also want to spend their time volunteering and helping others to live a more purposeful life.
Understanding how much a client values spiritual wellbeing will allow you to give tailored advice that creates a life where they have more time to spend on these pursuits.
Clients who value their social wellbeing may seek financial advice in order to dedicate more time to those they care about or to have time to be more socially active. Valuing social wellbeing can present itself as wanting more time to build a sense of connection and a support-system, as well as having more time for friends, family and the community.
Emotional wellbeing can affect clients’ relationships with money, and those who struggle with this dimension may require advice on building a life where they can spend without guilt.
The emotional wellbeing dimension also gages how much control clients feel they have over their life, how they respond to challenges, their sense of personal responsibility and how they cope with stress. Tailoring your advice to meet the emotional needs of your client will further help them to live their best life through the wellbeing analysis.
Whilst placing value on financial wellbeing may be an obvious area of concern to you and your client, comprehending how this dimension is inter-connected with the other 7 dimensions of wellbeing can help to create a full picture of what drives your client and how you can deliver advice that will have a greater effect on their lives.
Clients seeking financial advice often have the desire to feel confident in their finances and support and protect those they love. They may also need help in this dimension by balancing their wants and needs and saving and spending, having money to deal with unexpected life expenses, and have money to invest.
The occupational dimension of wellbeing can include ensuring that your clients career choice is aligned with their values. The results of the Your Life survey may highlight that the client would like to make work optional or pursue work that is more purposeful to them. A high score in this area would most likely demonstrate that the client feels that they are engaging in activities or employment that provide them with meaning and personal satisfaction.
To learn more about utilising the Your Life Module in your advice offering, click here.