Foundation Skills - Behavioural Archetypes [Best Practices]

Behavioural Archetypes

What is a Behavioural Archetype? 

Behavioural archetypes represent typical motivations, goals, pain points and needs of the users of a product or service. A behavioural archetype will give insight into what motivates users to engage with a product or service and what they expect and need from their interaction with the product or service.

At Lumiant, we have created Behavioural Archetypes to help you identify your client’s drivers and give guidance on how to respond to these in a life-centred way. The Lumiant Behavioural Archetypes are attached to a trigger point - a distinct reason that motivated a couple or individual to seek financial advice. For each Archetype, there are associated goals, behaviours, pain points and a relationship dynamic that are typical of this Archetype.

How to use a Behavioural Archetypes

It is important to note that people may not necessarily fit neatly into one Archetype. Whilst the Lumiant Behavioural Archetypes give a good overall picture of certain characteristics of people seeking financial advice, it’s important to get to know individuals well to best help them reach their financial goals and life aspirations.

You can use a Behavioural Archetype as a triage tool to help you identify typical needs, suitable products and services, and preferences for interactions with your clients.

You can also use them to help you communicate better with clients and prepare yourself for initial and ongoing meetings and interactions.

Key features 

For each of the Lumiant Behavioural Archetypes, there are associated Motivations, Goals, Behaviours and Pain Points. Typical incomes and assets have also been included where appropriate. There are also a range of Values that map to each Archetype.

Attitudes for each Archetype are shown across 4 scales:

• Open vs Closed/Skeptical
• Confident vs Unsure
• Extrovert vs Introvert
• More focused on self vs More focused on others

Remember that individual people show large variation across these parameters even though they are at similar stages in life (including 2 people in the same couple!)

Example personas 

For each Behavioural Archetype there is an Example Persona to how this archetype may present in real life with actual people.

Each Persona has an added dimension of Relationship Dynamic. Relationship dynamics take into consideration how the couples interact as well as how well they understand each other and their financial goals. As the Lumiant system helps couples to articulate their life values beyond typical financial advice models, it can be very new and eye-opening for couples. Understanding their Relationship Dynamic may help in aligning their values and managing tricky situations that arise when giving the couple advice.

Patterns in Relationship Dynamics vary from couple to couple, so these examples are not specific to particular archetypes.