Unlock Your Financial Future with Merrill Lynch’s Compass Quiz!

Finding the ideal financial planning strategy can be as challenging as navigating today’s complex markets. With countless investment options and conflicting advice, choosing the right approach for your financial needs can quickly become overwhelming. Merrill Lynch, a leader in wealth management and financial services, simplifies this process with its innovative Wealth Assessment Quiz, an interactive tool designed to guide you toward your dream financial future.

In this blog, we’ll explore how the Merrill Lynch Wealth Assessment Quiz works, why it has become a client favorite, and how financial advisors can create similar tools to engage customers and boost satisfaction.

Merrill Lynch’s Commitment to Financial Excellence

Merrill Lynch is celebrated for its comprehensive, client-focused financial services prioritizing your financial health and long-term goals. Understanding that every investor’s situation is unique, Merrill Lynch’s mission is to empower you to upgrade your financial strategy with solutions that cater to your specific concerns and objectives.

Enter the Wealth Assessment Quiz, a tool that removes the guesswork by offering tailored recommendations. Whether you’re planning for retirement, saving for education, building wealth, or aiming for a tax-efficient portfolio, the quiz matches you with the perfect investment approach for your financial goals.

What is Merrill Lynch’s Wealth Assessment Quiz?

The Wealth Assessment Quiz is an easy-to-use, interactive tool that helps identify the financial strategies best suited to your unique needs. In just a few minutes, the quiz evaluates key factors like risk tolerance, time horizon, financial concerns, and lifestyle to recommend a personalized approach that brings out the best in your financial portfolio.

Transform Your Financial Planning: Find Your Ideal Strategy with Merrill Lynch’s Quiz

The Wealth Assessment Quiz simplifies your journey to great financial planning. Here’s how it works:

1. Family Financial Security: Are you confident your loved ones will have enough resources throughout their lives? Share your family’s unique needs for tailored legacy and protection strategies.

2. Personal Longevity Planning: Will your resources sustain everything you want to accomplish? Tell us about your retirement dreams and concerns for customized long-term solutions.

3. Lifestyle Sustainability: How does maintaining your desired standard of living influence your investment approach? Help us understand your lifestyle priorities to develop strategies that support them.

4. Philanthropic Vision: Are you familiar with the various ways to structure your charitable giving? Share your giving goals for optimized charitable strategies that maximize your impact while providing potential tax benefits.

Why Personalized Tools Like the Wealth Assessment Quiz Work

1. Boosts Engagement: Interactive quizzes keep clients interested by offering a tailored and enjoyable experience.
2. Builds Confidence: Personalized recommendations make choosing financial strategies simple and stress-free, ensuring client satisfaction.
3. Drives Conversions: Tailored suggestions lead to more informed financial decisions, reducing indecision and increasing client commitment.
4. Provides Insights: Quizzes gather valuable data on client preferences, helping advisors refine strategies and approaches.

The Success of Merrill Lynch’s Wealth Assessment Quiz

Since its launch, the Merrill Lynch Wealth Assessment Quiz has garnered widespread acclaim for its intuitive design and spot-on recommendations. In 2024, Merrill Lynch’s website saw a surge in engagement, with an impressive 15.4M  monthly visits. This innovative tool has significantly increased client conversions, proving the value of interactive experiences in enhancing customer satisfaction and driving growth.

Source: Similarweb

How to Create a Quiz Like Merrill Lynch’s with Outgrow

Inspired by Merrill Lynch’s success? Using Outgrow’s powerful platform, you can create a similar tool for your financial advisory practice. Here’s how:

1. Sign Up for Outgrow 

Sign up for a free Outgrow account to explore its easy-to-use quiz builder. Already a member? Just log in and get started!

2. Choose Your Interactive Content Type

From Outgrow’s dashboard, choose financial e-commerce recommendations as your interactive content type. You can either build from the ground up or customize a template from Outgrow’s extensive library to perfectly align with your brand.

3. Add Your Financial Products for Recommendations

Once you’ve selected a template or started from scratch, you can seamlessly import financial products from your service offerings.

If you’re using Shopify, select the Shopify option and enter your hostname, API key, and password for smooth integration. Personalize your quiz by incorporating Crème de la Mer’s logo, signature colors, and unique brand voice.

If you’re using a CRM system, select the appropriate integration option and enter your credentials for smooth integration. Personalize your quiz by incorporating your logo, signature colors, and unique brand voice.

4. Design Your Questions

Create engaging and tailored questions designed to address your audience’s specific financial needs. Enhance the experience with visuals, such as charts illustrating investment growth or videos explaining complex financial concepts, to make it immersive and relatable.

5. Set Up Your Outcomes

Set up the outcomes of your quiz based on users’ responses, such as tailored investment recommendations, personalized financial advice, or actionable insights that truly add value.

Leverage the advanced mapping feature to assign all outcomes simultaneously! For example, you could recommend “conservative bond portfolios” for users who choose “low risk tolerance” or “growth-oriented equity funds” for those with “aggressive risk profiles.” This is done by assigning specific point values to outcomes according to user choices.

6. Integrate Your Quiz Easily

Embed your quiz on your website, product pages, or blog, and share it through social media and email newsletters. Outgrow’s versatile integration features make it easy to connect with your audience wherever they may be.

7. Promote Your Assessment 

Boost engagement by showcasing your quiz on your social media platforms and email campaigns. Leverage targeted ads to increase traffic and broaden your reach. Make it effortless for users to share their results with just one click on the results page, boosting your brand’s visibility.

8. Analyze Performance Metrics 

Leverage Outgrow’s analytics dashboard to track your quiz performance by analyzing key metrics such as completion rates, audience demographics, and financial product preferences. These insights can help you refine future quizzes and enhance client engagement effectively.

Conclusion

Imagine guiding your clients toward their financial goals with ease, just like Merrill Lynch’s Wealth Assessment Quiz. With Outgrow, you can create an interactive quiz that simplifies decision-making and fosters trust and engagement with your audience.

Why not bring this strategy to your brand?  Outgrow empowers you to design personalized quizzes that break through the online clutter, providing customers with a seamless, branded experience to explore your products and services.

From quizzes, surveys, calculators, and more, Outgrow transforms how customers interact with your brand. Plus, you can try a 7-day free trial without asking for your credit card info!

Start creating interactive content today and elevate your brand’s visibility and engagement.