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How To Fit HALO into Your Workflow

“How can financial advisors possibly fulfil their fiduciary responsibility to clients today without an intimate knowledge of the health aspects impacting both their physical and financial lives.”

Dr. Joseph Coughlin, Executive Director of MIT AgeLabs

 

We are living in unprecedented times with managing the cost of health care. According to a recent poll by the Robert Wood Johnson Foundation and the Harvard T.H. Chan School of Public Health, 42 per cent of Americans have spent all or most of their personal savings to pay for medical expenses and 26 per cent state that healthcare costs have caused a serious financial problem. New Department of Labor regulations on fiduciary standard of care is ushering in new levels of change never seen before in our times.

Lumiant is bridging the gap and bringing you the means to take hold of these challenges. With the Lumiant Family platform, people can finally connect their family health history with projected financial expenses. The Health Analysis Outlook Optimizer (HALO) enables you to safeguard your fiduciary responsibility to your clients.

HALO accomplishes it in three ways:

1. As a third-party provider, Lumiant’s HALO assessment provides support for your financial

recommendations.

2. Estimated lifetime costs for healthcare based on longevity and years of assistance helps ensure a client is saving enough money for those anticipated costs in their retirement.

3. Protecting your clients’ assets with proper insurance, legal and tax support related to health conditions and health care requirements ensures the client’s assets are not completely depleted during retirement.

 

HALO Process Flow with Your Existing Client Base

Integrating HALO into your workflow; with existing clients.png

Below is a step-by-step guide for integrating HALO into your workflow with existing clients.

□ Send an invitation via email to the client inviting them to take the HALO assessment

□ Client follows link and completes the HALO assessment (under 2 minute completion time)

□ Receive an email from Lumiant with the client’s contact information and an 8-page HALO report.

□ Review the client’s HALO report

□ Contact the client via email or phone to schedule a follow-up appointment

□ Review the client’s current financial standing, prepare any financial product recommendations and

savings strategies.

□ Prepare for the client meeting by:

o Printing out 2 copies of the client’s HALO report -one to give to the client and one for your client documentation folder

o Print out Lumiant-provided client education materials to accompany their HALO report

o Print out product recommendation information

o Review conversation cards for tips on having health-related financial decision making

□ Conduct client meetings. During the meeting, suggest to the client that they share HALO with their significant other, aging parents and siblings or any other family member they feel would benefit.

□ Incorporate Lumiant-prepared marketing materials in your normal email newsletter campaigns and social media posts to keep your audience continually aware of topics concerning health, family and finance.

□ Participate in monthly webinars on HALO updates.

□ Incorporate an invitation to take the HALO assessment when you schedule annual reviews with your client base. Recommend clients take HALO annually because results alter based on the clients’ behavioural changes.

 

HALO Process Flow for Lead Generation

Integrating HALO into your workflow; with prospects and new clients.png

Below is a step-by-step guide for integrating HALO into your workflow for generating leads.

□ Incorporate Lumiant-prepared marketing materials in your normal email newsletter campaigns and social media posts to keep your audience continually aware of topics concerning health, family and finance.

□ Use Lumiant-prepared materials to post on your social media, blog and email platforms inviting people to take HALO

□ Use Lumiant-prepared downloadable materials to print and use in physical mail campaigns and flyers, brochures, and postcard placement in local places of business promoting your advising practice.

□ Review Lumiant- prepared Lunch and Learn presentation marketing kits for presenting a range of topics from planning for health care costs, planning for a high-quality retirement lifestyle, understanding hereditary disease risks and how to include multiple family members in making health decisions.

□ Participate in Lumiant continuing education and training opportunities or talking to prospective clients about health-related topics

□ Incorporate an invitation to take the HALO assessment when you schedule annual reviews with your client base. Recommend clients take HALO annually because results alter based on the clients’ behavioural changes.

 

Conclusion

Our aim is to make using HALO as seamless as possible. If you have any suggestions for how we can improve your utilization of the HALO assessment or any support materials you think will help you be more effective in reaching your clients’ health and wealth planning needs, we want to hear from you. Please contact us by email support@lumiant.io  or through our website with your suggestions and comments, and we will get back to you right away. We look forward to hearing from you and working with you as you serve your clients’ health and wealth planning needs.

 

For a step by step guide, download the attachment for easy workflow you can follow. 

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