Increase advised and self-directed client engagement by creating a meaningful risk assessment tool to motivate clients to consult a Morgan Stanley Financial Advisor for in-depth guidance on their finances to grow their wealth.

COMPANY BACKGROUND

Founded in 1935, Morgan Stanley is a global financial services firm that helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals. The Wealth Management team helps people, businesses and institutions build, preserve and manage wealth so they can pursue their financial goals. Since February 2021, I work as a Senior UX Product Designer where I lead  the Strategic Portfolio Analytics squad within the Wealth Management UX Team.

ROLE & RESPONSIBILITIES
In February, 2021 I joined Morgan Stanley’s Wealth Management User Experience team as a Senior UX Product Designer. My role was to assume leadership of the Strategic Portfolio Analytics squad and lead the design Risk Assessment product through the second phase of the proposed lifecycle.

PRODUCT FOCUS
The Strategic Portfolio Analytics squad’s focus is to help Morgan Stanley Advised and Self-Directed clients to make better informed financial decisions about their accounts, holdings, risk tolerance, and exposure to market volatility. All of our users have different expectations, goals, and time horizons; yet all users share the common goal of wanting their assets to grow over time. Our Qualitative Research and Analysis over the last year has helped define this user and business problem to solve.

PRODUCT GOALS
1. Educate users to better understand investment risk.
2. Manage goals, expectations, & risk tolerance.
3. Build relationships with MS Financial Advisors.
4. Grow the number of Advised Clients and assets.
5. Help all clients access informed financial guidance.

Our competitors not only showed aggregate account risk values, but provided simple tools to educate and inspire their users to make better financial decisions. Many of our users experienced these tools elsewhere and asked Morgan Stanley to build similar tools to better understand risk. Recently Morgan Stanley acquired E*TRADE as part to shore up their efforts to reach and communicate more effectively with more customers who may not understand as much as they would like.

RESPONSIBILITIES
Deemed internally as an extremely complex project, with contributions and opinions coming from multiple business stakeholders, it was my responsibility to:

  • Identify prospective audiences
  • Conduct structured UX research
  • Design strategy concepts
  • Present multiple creative options
  • Contribute with opinions
  • Build trusting relationships with multiple stakeholders
  • Help educate the Product Owners about the UX process
  • Consistently deliver solid work to all team members
  • Lead my squad through development
  • Advocate for the user needs through research and data analysis.

CORE DESIGN SKILLS

  • Visually translate business requirements
  • Define & solve actual user problems with a clean and simple intuitive layout
  • Consider various interaction states to meet business goals and objectives
  • Using a critical eye to design and present solutions based upon what is best for the user-