Press Release

Goal-Driven Advice Best Tool To Manage Clients' Greece Anxiety
CEB Financial Services Experts Available For Comment On Best Practices To Support Wealth Management Clients During Times of Financial Anxiety

Goal-driven advisory discussions are the best antidote for financial services clients' anxieties triggered by the ongoing Greek crisis, according to financial services experts from CEB (NYSE: CEB), the best practice insights and technology company.

Images of Greece's closed banks and empty ATMs have the potential to stir new anxieties among global wealth management clients already negative on their financial providers. New data from CEB's Consumer Financial Monitor survey shows net-negative scores for client confidence in financial providers globally (-29%), and particularly in Europe (-36%).

Additional data from CEB shows further risks to the traditional wealth management firms as provider diversification grows rapidly, with 38% of global High-Net-Worth (HNW) clients relying on one provider in 2013, down from 55% in 2011.

In addition to traditional wealth management offerings, roboadvisor platforms, with current and expanding presence in Asia, Europe, and North America, increasingly vie for client mindshare and allow for rapid "do-it-yourself" execution without the buffer of professional guidance. More damaging can be "permabear" and "goldbug" commentators increasing their client mindshare, which can lead to radical and emotionally driven asset allocation decisions.

The traditional approach to market turmoil has been for advisors to focus on capital markets forces to help clients cope. Peter Delano, CEB's Wealth Management Practice Leader, recommends the following course for financial providers seeking to steadily guide their clients during times of disruption while at the same time improving their own brand perception and assets under management:  

  • Greece as teaching opportunity: "Advisors should shift client conversations from market volatility to holistic advice that tailors discussions to client goals, and teaches actionable steps on how to reach them."  
  • Goals-based advice leads to loyalty: "CEB data shows HNW clients are 36% more likely to remain loyal to a provider that rates well in tailoring and teaching."
  • Tailoring and Teaching leads to greater assets under management (AUM): "A CEB 2014 global survey of 600 HNW clients has shown that clients who rate their advisors highly on tailoring and teaching on average hold nearly 40% more AUM at their primary firm, translating to an estimated $38 million in incremental annual revenue to firms."

In addition to specific wealth management insights, CEB Financial Services Chief Research Officer Peter Aykens is available to discuss the new findings of the biannual Consumer Financial Monitor survey of over 18,000 financial services consumers worldwide. The survey measures consumer sentiment of personal finances, attitudes towards financial providers, and levels of product purchasing and financial proactivity.

About CEB

CEB is a best practice insight and technology company. In partnership with leading organizations around the globe, we develop innovative solutions to drive corporate performance. CEB equips leaders at more than 10,000 companies with the intelligence to effectively manage talent, customers, and operations. CEB is a trusted partner to 90% of the Fortune 500, nearly 75% of the Dow Jones Asian Titans, and more than 85% of the FTSE 100. More at

Justin Lavelle

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/PRNewswire -- July 10, 2015/