CO-CREATE FINANCIAL PLANNING SERVICES FOR AN AGING POPULATION: DESIGNERS' PERSPECTIVES
<jats:title>Abstract</jats:title><jats:p>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 fina...
| Main Authors: | , , , , , , |
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| Other Authors: | |
| Format: | Article |
| Language: | English |
| Published: |
Cambridge University Press (CUP)
2024
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| Online Access: | https://hdl.handle.net/1721.1/154879 |
| _version_ | 1826205241539821568 |
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| author | Lee, Sheng-Hung Coughlin, Joseph F Yang, Maria de Weck, Olivier L Lee, Chaiwoo Klopfer, Eric Ochsendorf, John |
| author2 | Massachusetts Institute of Technology. Department of Mechanical Engineering |
| author_facet | Massachusetts Institute of Technology. Department of Mechanical Engineering Lee, Sheng-Hung Coughlin, Joseph F Yang, Maria de Weck, Olivier L Lee, Chaiwoo Klopfer, Eric Ochsendorf, John |
| author_sort | Lee, Sheng-Hung |
| collection | MIT |
| description | <jats:title>Abstract</jats:title><jats:p>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.</jats:p> |
| first_indexed | 2024-09-23T13:09:35Z |
| format | Article |
| id | mit-1721.1/154879 |
| institution | Massachusetts Institute of Technology |
| language | English |
| last_indexed | 2025-02-19T04:22:08Z |
| publishDate | 2024 |
| publisher | Cambridge University Press (CUP) |
| record_format | dspace |
| spelling | mit-1721.1/1548792025-01-05T04:43:40Z CO-CREATE FINANCIAL PLANNING SERVICES FOR AN AGING POPULATION: DESIGNERS' PERSPECTIVES Lee, Sheng-Hung Coughlin, Joseph F Yang, Maria de Weck, Olivier L Lee, Chaiwoo Klopfer, Eric Ochsendorf, John Massachusetts Institute of Technology. Department of Mechanical Engineering <jats:title>Abstract</jats:title><jats:p>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.</jats:p> 2024-05-09T17:11:08Z 2024-05-09T17:11:08Z 2023-07 2024-05-09T17:07:23Z Article http://purl.org/eprint/type/ConferencePaper https://hdl.handle.net/1721.1/154879 Lee, Sheng-Hung, Coughlin, Joseph F, Yang, Maria, de Weck, Olivier L, Lee, Chaiwoo et al. 2023. "CO-CREATE FINANCIAL PLANNING SERVICES FOR AN AGING POPULATION: DESIGNERS' PERSPECTIVES." Proceedings of the Design Society, 3. en 10.1017/pds.2023.95 Proceedings of the Design Society Creative Commons Attribution-Noncommercial-NoDerivatives https://creativecommons.org/licenses/by-nc-nd/4.0/ application/pdf Cambridge University Press (CUP) CUP |
| spellingShingle | Lee, Sheng-Hung Coughlin, Joseph F Yang, Maria de Weck, Olivier L Lee, Chaiwoo Klopfer, Eric Ochsendorf, John CO-CREATE FINANCIAL PLANNING SERVICES FOR AN AGING POPULATION: DESIGNERS' PERSPECTIVES |
| title | CO-CREATE FINANCIAL PLANNING SERVICES FOR AN AGING POPULATION: DESIGNERS' PERSPECTIVES |
| title_full | CO-CREATE FINANCIAL PLANNING SERVICES FOR AN AGING POPULATION: DESIGNERS' PERSPECTIVES |
| title_fullStr | CO-CREATE FINANCIAL PLANNING SERVICES FOR AN AGING POPULATION: DESIGNERS' PERSPECTIVES |
| title_full_unstemmed | CO-CREATE FINANCIAL PLANNING SERVICES FOR AN AGING POPULATION: DESIGNERS' PERSPECTIVES |
| title_short | CO-CREATE FINANCIAL PLANNING SERVICES FOR AN AGING POPULATION: DESIGNERS' PERSPECTIVES |
| title_sort | co create financial planning services for an aging population designers perspectives |
| url | https://hdl.handle.net/1721.1/154879 |
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