The best learning often occurs when the learner is immersed in a situation that requires thought and action. Simulations do just that: They allow the learner to apply previously acquired knowledge and skills to control an environment replicated from the real world. In a simulation, the learner takes responsibility for the decision-making, experiencing the positive and negative consequences of those decisions. This results in the learner gaining valuable problem solving and decision-making skills.

Working with a national association that represents the financial services industry, Vangent created an interactive, web-based simulation for wealth/trust advisors, serving high-net-worth clients. The objective of the simulation was to provide the learner with a general understanding of wealth management advisory services in four subject areas: financial planning, tax planning, retirement planning, and estate planning.

The simulation presented the learner with a highly compensated executive client, and then immersed them in a real-world scenario, focusing on the financial needs of that client and his family. This highly engaging and interactive scenario-based exercise resulted in a prescriptive assessment, which highlighted gaps in knowledge and application and provided recommendations to obtain necessary skills. The simulation was also used by managers as a post-training assessment to validate the learning acquired, assess mastery of knowledge areas addressed in the client scenario, and determine where additional training support or coaching was needed.

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