Beyond demographics and finances, Catchlight captures behavioral characteristics and persona classifications that describe how clients think, make decisions, and prefer to interact. This data helps you customize your communication style, service approach, and product recommendations to match each client's personality and preferences.
Key benefit: Two clients with identical demographics and wealth may require completely different approaches based on their characteristics and personas.
What Are Characteristics?
Characteristics are individual behavioral traits or attributes that describe aspects of a person's personality, decision-making style, or lifestyle approach.
Common characteristics include:
Detail-oriented vs. big-picture thinker
Risk-tolerant vs. risk-averse
Early adopter vs. traditionalist
Collaborative vs. independent decision-maker
Status-conscious vs. value-focused
Analytical vs. emotional
Delegator vs. hands-on
Long-term planner vs. spontaneous
Source: Modeled from:
Purchasing behavior patterns
Professional role and industry
Education and job level
Online behavior and content engagement
Product preferences
Social media activity patterns
Consumer data psychographic models
What Are Personas?
Personas are comprehensive behavioral profiles that bundle multiple characteristics into recognizable client archetypes. They describe holistic patterns in how people approach money, planning, and decision-making.
Think of personas as: Pre-packaged client "types" that help you quickly understand how to approach and serve someone.
Common Financial Planning Personas
While specific persona names vary by data provider, common financial planning personas include:
The Optimizer
Characteristics:
Highly analytical and detail-oriented
Researches extensively before decisions
Questions recommendations, wants to understand "why"
Compares options meticulously
Values data, spreadsheets, evidence
Risk-aware (not necessarily risk-averse, but wants to understand risks)
Communication approach:
Provide detailed analysis and rationale
Share data, charts, comparison tables
Explain methodology and assumptions
Welcome questions, encourage engagement
Don't rush decisions—give time to analyze
Service preferences:
Detailed written plans
Regular performance reports with benchmarks
Transparency in fees and processes
Educational content and resources
Portal access to data
Example: Software engineer who wants to see Monte Carlo simulations, tax projections, and fee breakdowns before making any decision.
The Delegator
Characteristics:
Busy professional who wants to outsource financial management
Trusts experts and values credentials
Makes decisions quickly once confident in advisor
Dislikes being in the weeds
Wants outcomes, not processes
Time-constrained, values efficiency
Communication approach:
Focus on outcomes and recommendations, not exhaustive details
Be confident and directive ("Here's what I recommend...")
Respect their time—be concise
Handle the details for them
Provide executive summaries, not long reports
Service preferences:
White-glove service
Handle paperwork and logistics
Proactive recommendations
Brief, focused meetings
Consolidated reporting
Example: Physician who says, "I trust you to handle this. Just tell me what I need to sign and where."
The Planner
Characteristics:
Methodical, disciplined, future-focused
Enjoys planning and goal-setting
Values security and preparedness
Wants clearly defined strategies and timelines
Appreciates structure and processes
Often has spreadsheets and budgets already
Communication approach:
Create clear, written plans with milestones
Provide timelines and action steps
Schedule regular review meetings
Set and track progress toward goals
Celebrate achievements
Service preferences:
Comprehensive financial plans
Goal tracking tools
Regular progress updates
Defined meeting schedules
Checklists and action items
Example: Engineer planning retirement 20 years out who has detailed spreadsheets and wants quarterly progress reviews.
The Relationship Builder
Characteristics:
Values personal connection over process
Wants to feel understood and cared for
Makes decisions based on trust and rapport
Appreciates personal touches
Shares personal stories and life details
Loyal once relationship is established
Communication approach:
Build personal relationship first
Remember personal details (family, hobbies, life events)
Show genuine care and interest
Be patient, don't rush to business
Personal notes, birthday cards, thoughtful touches
Service preferences:
Face-to-face meetings
Personal phone calls
Relationship continuity (same advisor)
Social events and gatherings
Personal attention
Example: Client who wants to tell you about their grandchildren and vacation before discussing portfolio performance.
The Skeptic
Characteristics:
Questions everything, trust must be earned
Wary of sales pitches and hidden fees
Values transparency and honesty
May have had bad experiences before
Slow to make decisions
Needs to feel in control
Communication approach:
Be completely transparent (fees, conflicts, limitations)
Acknowledge concerns directly
Provide references and credentials
Allow them to set the pace
Never pressure or use high-pressure tactics
Admit when you don't know something
Service preferences:
Fee-only or transparent fee structure
Second opinions welcome
Clear disclosures
Independent verification
Gradual engagement (start small)
Example: "I've been burned before. Explain exactly how you get paid and what conflicts of interest you have."
The Status Seeker
Characteristics:
Values prestige and exclusivity
Wants premium service and recognition
Impressed by credentials, awards, recognitions
Appreciates luxury and quality
Compares to peers
Success-oriented
Communication approach:
Emphasize your expertise and credentials
Share success stories (where appropriate)
Provide VIP treatment
Acknowledge their achievements
Offer exclusive opportunities
Professional, polished presentation
Service preferences:
Premium service tiers
Exclusive events
Recognition (advisory boards, VIP programs)
High-touch, concierge-level service
Access to unique opportunities
Example: Successful executive who wants to know about your most successful clients and exclusive investment opportunities.
The Values-Driven Investor
Characteristics:
Money is a tool for values and impact
Interested in ESG, sustainable, impact investing
Philanthropically minded
Wants portfolio aligned with beliefs
Less focused on maximum returns alone
Cause-oriented
Communication approach:
Discuss values and priorities first
Show how investments align with beliefs
Highlight impact alongside returns
Connect planning to legacy and giving
Share stories of positive outcomes
Service preferences:
ESG and impact investment options
Charitable planning emphasis
Values alignment discussions
Mission-driven approach
Community and cause involvement
Example: "I want my money to support companies doing good in the world. How can we build a portfolio that reflects my environmental values?"
The DIY Enthusiast
Characteristics:
Enjoys managing their own finances
Financially literate, may read financial media regularly
Wants education and guidance, not full outsourcing
Likes to be involved in decisions
May use robo-advisors or self-directed accounts
Values cost-efficiency
Communication approach:
Position as thought partner, not sole decision-maker
Provide education and tools
Respect their knowledge
Collaborate on decisions
Explain but don't condescend
Service preferences:
Planning-focused (not just asset management)
Second opinion services
Hourly or project-based fees
Educational resources
Technology tools
Example: "I manage my investments myself but want help with tax and estate planning. Can we work together without you taking over my portfolio?"
How Personas Are Assigned
Modeling approach: Personas are assigned based on aggregated behavioral data:
Professional role (e.g., physicians often = Delegators)
Purchase patterns (luxury vs. value brands = Status Seeker vs. Optimizer)
Online behavior (research-heavy = Optimizer, quick decisions = Delegator)
Education and job level
Age and life stage
Technology adoption patterns
Accuracy: Persona assignments are directional, not definitive. Use as starting hypothesis, refine through actual interaction.
Updates: Personas may change over time as behavior patterns evolve.
Using Characteristics & Personas Effectively
Tailoring Communication
Meeting Preparation: Before a client meeting, review persona:
Optimizer: Prepare detailed analysis, charts, data
Delegator: Prepare clear recommendations, summary format
Planner: Bring goal tracking, progress updates, action items
Relationship Builder: Allocate extra time for personal conversation
Skeptic: Prepare transparent disclosures, fee breakdowns
Status Seeker: Polish presentation, emphasize credentials
Written Communication:
Optimizer: Detailed emails with supporting data
Delegator: Brief, action-oriented summaries
Planner: Structured with timelines and next steps
Relationship Builder: Personal tone, warm language
Skeptic: Clear, transparent, no hype
Values-Driven: Connect to impact and purpose
Service Model Customization
Meeting Frequency:
Planner: Quarterly reviews (they expect it)
Delegator: Semi-annual or annual (they're busy)
Relationship Builder: Frequent touchpoints (they value contact)
Communication Channel:
Tech adopters: Email, portal, video calls
Traditionalists: Phone calls, in-person meetings
Busy professionals: Text updates, async communication
Reporting Style:
Optimizer: Detailed performance reports with benchmarks
Delegator: One-page executive summaries
Visual learners: Charts and graphs
Narrative preference: Written explanations
Product and Service Recommendations
Investment Approach:
Optimizer: Show analysis, multiple options, let them help decide
Delegator: Present single best recommendation confidently
Risk-averse Planner: Conservative, predictable strategies
Values-Driven: ESG, impact, socially responsible options
Planning Services:
Planner: Comprehensive written plans
Delegator: Concierge execution services
DIY Enthusiast: Educational workshops, planning-only services
Skeptic: Transparent fee-only arrangements
Marketing and Segmentation
Campaign Design: Create persona-specific campaigns:
Optimizer Campaign:
Topic: "Data-Driven Retirement Planning: Optimizing Your Tax-Efficient Withdrawal Strategy"
Format: Detailed webinar with Q&A, downloadable spreadsheet tools
Tone: Analytical, evidence-based
Relationship Builder Campaign:
Topic: "Client Appreciation Dinner: An Evening of Connection"
Format: In-person social event with financial planning conversation
Tone: Warm, personal, relationship-focused
Values-Driven Campaign:
Topic: "Investing with Impact: Aligning Your Portfolio with Your Values"
Format: Panel discussion with ESG fund managers
Tone: Purpose-driven, mission-focused
Limitations and Considerations
Personas Are Starting Points, Not Labels
Don't pigeonhole:
People are complex and don't fit perfectly into categories
Personas can change over time or differ by situation
Use as hypothesis, refine through actual experience
Example: A client may be an Optimizer about investments but a Delegator about estate planning (different contexts).
Verify Through Observation
Watch for signs that confirm or contradict assigned persona:
How do they communicate in emails?
What questions do they ask?
How quickly do they make decisions?
What seems to matter most to them?
Adjust approach if persona doesn't match reality.
Multiple Characteristics
Clients often exhibit multiple characteristics:
Detail-oriented AND relationship-focused
Status-conscious AND value-driven
Analytical AND collaborative
Prioritize based on context and what matters most in the moment.
Cultural and Generational Factors
Characteristics and personas are influenced by:
Generation: Boomers vs. Millennials have different tech adoption, communication preferences
Culture: Different cultures have different approaches to money, authority, relationships
Gender: Socialized patterns may influence communication and decision-making styles
Life stage: Young families vs. retirees have different priorities and concerns
Be aware of these factors and don't over-rely on persona alone.
Privacy and Ethical Use
Appropriate:
Using persona insights to improve service and communication
Tailoring approach to match preferences
Creating better client experiences
Inappropriate:
Manipulating clients based on psychological profiles
Selling unsuitable products because persona "fits"
Making clients feel categorized or stereotyped
Sharing persona classifications with clients unless they ask
Best practice: Use personas internally to serve clients better, not as labels to share externally.
Practical Examples
Example 1: First Meeting Preparation New prospect is classified as "Optimizer" persona. Preparation: Bring detailed fee breakdown, performance comparisons, planning process flowchart, sample reports. Result: Prospect appreciates thoroughness, feels confident in your analytical approach, engages deeply.
Example 2: Service Model Mismatch Client is "Delegator" but you're providing detailed monthly reports they never read. Adjustment: Switch to quarterly one-page summaries with annual comprehensive review. Result: Client appreciates efficiency, feels you understand their time constraints.
Example 3: Campaign Targeting Filter: Persona = "Values-Driven" AND Wealth Segment = Affluent Campaign: ESG investing workshop Result: High engagement from target audience who cares about impact.
Related Articles
6.2: Personalizing Outreach
5.6: Interests & Lifestyle Data
6.4: Building Conversation Starters
5.8: Catchlight Score Explained
6.5: Event and Campaign Planning