Frequently Asked Questions

Some of the most commonly asked questions about Harbor, the Financial Health Quiz, and best practices.


How is the financial health score determined?

The Financial Health Score is a combination of four "sub-scores" computed based on the responses given during the financial health quiz.  The sub-scores (and weightings) are:

  • Net-worth (50%): relative to age and income benchmarks
  • Savings rate (30%): relative to a 10% benchmark 
  • Protection (10%): Completeness of insurance coverage and beneficiary information (assumed full, if no information collected)
  • Indebtedness(10%): Penalized for non-mortgage indebtedness (assumed none, if no information collected)

How is potential value of an action item determined?

The potential value of various action items is determined based on simple "back of the envelope" calculations that are relevant to each item/

How does Harbor decide which "action plan" items to show? 

Harbor runs proprietary algorithms to determine which action plan items are most appropriate for the user, according to to answers they gave in the "Financial Health Quiz".

What about Harbor's product can be customized?

The brand color, contact information, call to action, and webpage links can all be customized as a part of the basic customization package of Harbor's software.  It's also possible to "turn off" or "boost" certain action items that you find less or more relevant to your practice.   In select cases, there may be an opportunity to customize elements of onboarding and the routing of users to different destinations within the site, according to how they match certain "targeting" criteria determined by you.

How do other advisors use Harbor?

The answer to this question varies by the practice and preferences of each individual advisor.   Some of the various ways we see Harbor being used by advisors:

  • "Conference room materials:" Where they walk through the product in real time when in the room together with the client. 
  • As a follow up: Advisors email a link to the Financial Health Quiz to their clients or prospects, as a way to retouch them and to stay top of mind with them.  
  • Referrals:  Asking existing clients to pass along a link to the Financial Health Quiz to introduce the value provided by the advisor
  • Website content: Posting on their website as a way to attract the collection of additional prospect email addresses
  • Lead Qualification: Emailing the link to anyone they are considering meeting with, as a way to screen their fit as a client, in advance