A data point is a measurement or set of measurements of a single member of a particular population. For the financial services industry, client data typically include age, income, net worth, investable assets, risk tolerance, attitudes, and perhaps big data (with or without theory). This information is traditionally used to describe wealth groups (e.g., mass affluent, ultra high net worth) and determine relevant products and services.
What’s missing? The scientific measurement of relevant wealth-building behaviors and life experiences that have been proven to predict net worth; an analysis of wealth groups that focuses on prediction of future success in addition to describing concerns and attitudes; and data that can identify wealth building potential of clients while also providing scientific recommendations for improvement in individual financial management.
Data Points’ predictive analytics identify the wealth building potential of clients. Measuring life experiences and behaviors that relate to building wealth, Data Points provides scientifically-based, actionable recommendations for institutions and individuals. Our products and services are based on nearly 40 years of research from the Affluent Market Institute, founded by Dr. Thomas J. Stanley, and the source of data in the New York Times bestselling books, The Millionaire Next Door and The Millionaire Mind.