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CO-CREATE FINANCIAL PLANNING SERVICES FOR AN AGING POPULATION: DESIGNERS' PERSPECTIVES
Published online by Cambridge University Press: 19 June 2023
Abstract
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The purpose of the study is to understand the design considerations for creating a provocative financial planning toolkit with services to help facilitate more constructive and meaningful conversations to build trust and empathy between financial advisors and senior people. We conducted four rounds of 60-minute co-creation workshops with eight invited participants from various design disciplines to work in pairs to generate four preliminary concepts suggesting design considerations. We used ATLAS.ti to do qualitative research analysis under an NCT (notice, collecting, thinking) model to identify 22 codes synthesized from verbal and behavioral data. The study concluded with three design principles: 1) the concept of financial planning is about people's expectation management, 2) a financial planning toolkit is designed under service systems, and 3) the tailor-made and modular design features can give financial advisors more flexibility to engage with senior people and enable them to share more about their life stories and needs to recommend financial planning packages precisely according to personal preference, health conditions, and financial status.
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This is an Open Access article, distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives licence (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is unaltered and is properly cited. The written permission of Cambridge University Press must be obtained for commercial re-use or in order to create a derivative work.- Copyright
- The Author(s), 2023. Published by Cambridge University Press
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